Summary: State Of Wisconsin; General Obligation

S&P Global Ratings assigned its 'AA+' long-term rating to the State of Wisconsin's approximately $183.4 million general obligation (GO) bonds of 2022, series A. The outlook is stable. The state's full faith, credit, and taxing power, which are irrevocably pledged to make principal and interest payments, secures the bonds and the state's GO debt outstanding. The Wisconsin Constitution requires that the legislature provide for the payment of GO bonds by appropriation. In accordance with state statutes, all GO debt service payments have an irrevocable first charge on all state revenue, and no legislative action is required to release revenues for the payment of GO debt. To further protect bondholders, state statutes prohibit Wisconsin's Secretary of Administration from prorating or reducing

...S&P Global Ratings assigned its '##+' long-term rating to the State of Wisconsin's approximately $183.4 million general obligation (GO) bonds of 2022, series A. The outlook is stable. The state's full faith, credit, and taxing power, which are irrevocably pledged to make principal and interest payments, secures the bonds and the state's GO debt outstanding. The Wisconsin Constitution requires that the legislature provide for the payment of GO bonds by appropriation. In accordance with state statutes, all GO debt service payments have an irrevocable first charge on all state revenue, and no legislative action is required to release revenues for the payment of GO debt. To further protect bondholders, state statutes prohibit Wisconsin's Secretary of Administration from prorating or reducing debt service payments. Wisconsin will use proceeds from the 2022 series A bonds to finance various general government purpose capital improvements....

Summary