Summary: State Of Wisconsin Wisconsin Building Commission; CP

S&P Global Ratings assigned its 'A-1+' short-term rating to Wisconsin's $950 million general obligation (GO) extendible municipal commercial paper (EMCP) notes, based on the long-term rating and our opinion of the state's credit quality and its provision of self-liquidity support provided by the State of Wisconsin. The EMCP notes constitute GOs of Wisconsin and are secured by a pledge of state's full faith, credit, and taxing power. 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

...S&P Global Ratings assigned its 'A-1+' short-term rating to Wisconsin's $950 million general obligation (GO) extendible municipal commercial paper (EMCP) notes, based on the long-term rating and our opinion of the state's credit quality and its provision of self-liquidity support provided by the State of Wisconsin. The EMCP notes constitute GOs of Wisconsin and are secured by a pledge of state's full faith, credit, and taxing power. 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. Pursuant to the authorizing program resolution, adopted June 22, 2022, proceeds from the issuance of the...

Summary