S&P Global Ratings assigned its 'AA-' long-term rating to Wisconsin's 2017 series A and B general fund annual appropriation refunding bonds. We also affirmed our 'AA' long-term rating and underlying rating (SPUR) on the state's existing general obligation (GO) bonds, as well as our 'AA-' ratings on its outstanding appropriation-backed debt and our 'A' ratings on bonds backed by the state's moral-obligation pledge and debt issued by the Wisconsin Center District secured by state appropriations. Finally, we affirmed our 'A-1+' rating on the state's GO commercial paper (CP) and extended municipal CP programs. The outlook, where applicable, is stable. The rating on the general fund annual appropriation refunding bonds reflects annual appropriation risk, as well as our view of the
