Summary: Milwaukee Redevelopment Authority Wisconsin; Moral Obligation

S&P Global Ratings raised its rating on the Redevelopment Authority of the City of Milwaukee (RACM), Wis.' series 2017 debt one notch to 'A+' from 'A', based on the application of its criteria "Issue Credit Ratings Linked To U.S. Public Finance Obligors? Creditworthiness,," published Jan. 22, 2018, on RatingsDirect. The outlook is stable. The rating on the bonds is two notches off of our view of the state's general creditworthiness (as reflected in the 'AA' general obligation [GO] rating, with a stable outlook) to reflect the moral obligation of the state to appropriate funds toward debt service in the event there is a deficiency in the debt service fund. In our view, the obligation maintains a moderate relationship between the

...S&P Global Ratings raised its rating on the Redevelopment Authority of the City of Milwaukee (RACM), Wis.' series 2017 debt one notch to 'A+' from 'A', based on the application of its criteria "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness,," published Jan. 22, 2018, on RatingsDirect. The outlook is stable. The rating on the bonds is two notches off of our view of the state's general creditworthiness (as reflected in the '##' general obligation [GO] rating, with a stable outlook) to reflect the moral obligation of the state to appropriate funds toward debt service in the event there is a deficiency in the debt service fund. In our view, the obligation maintains a moderate relationship between the state and the projects being financed. The bonds are being used to fund a neighborhood schools plan, which involves providing classroom capacity for Milwaukee Public Schools (MPS) that, while it does not exhibit significant importance to the basic function and purpose...

Summary