Summary: Milwaukee Redevelopment Authority Wisconsin; Moral Obligation

S&P Global Ratings has assigned its 'A' rating to the Redevelopment Authority of the City of Milwaukee (RACM), Wis.' series 2017 refunding revenue bonds (Milwaukee Public Schools [MPS]—Neighborhood Schools Initiative). The outlook is stable. The 'A' rating and stable outlook on the bonds reflect our view of the state's moral obligation pledge to replenish any insufficiencies in RACM's special debt service reserve fund (DSRF), and the rating is notched one full rating category off our 'AA' general obligation (GO) rating on Wisconsin, in accordance with our criteria for rating moral obligation bonds. RACM will lend proceeds of the bonds to the MPS pursuant to a loan agreement. Bond proceeds will be used to refinance the RACM's series 2007A refunding revenue

...S&P Global Ratings has assigned its 'A' rating to the Redevelopment Authority of the City of Milwaukee (RACM), Wis.' series 2017 refunding revenue bonds (Milwaukee Public Schools [MPS]--Neighborhood Schools Initiative). The outlook is stable. The 'A' rating and stable outlook on the bonds reflect our view of the state's moral obligation pledge to replenish any insufficiencies in RACM's special debt service reserve fund (DSRF), and the rating is notched one full rating category off our '##' general obligation (GO) rating on Wisconsin, in accordance with our criteria for rating moral obligation bonds. RACM will lend proceeds of the bonds to the MPS pursuant to a loan agreement. Bond proceeds will be used to refinance the RACM's series 2007A refunding revenue bonds (MPS--Neighborhood Schools Initiative) and pay the costs of the surety bond used to satisfy the special DSRF requirement. The 2007A and 2013A bonds were issued for refinancing, in part, the Neighborhood Schools Plan, which included...

Summary