S&P Global Ratings assigned its 'AA' long-term rating to Wisconsin's general obligation (GO) refunding bonds of 2017, series 1. We also affirmed our 'AA' long-term rating and underlying rating (SPUR) on the state's existing 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 'AA' rating on Wisconsin's GO bonds reflects our view of the state's: Governmental framework supportive of credit quality, with a constitutional balanced-budget requirement and
