Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Wisconsin's $185.3 million general obligation (GO) refunding bonds of 2015, series 1. We also affirmed our 'AA' long-term rating and underlying rating (SPUR) on the state's existing GO bonds. In addition, we affirmed our 'AA-' rating and SPUR on the state's appropriation-backed bonds. Finally, we also affirmed our 'A' rating on bonds backed by the state's moral-obligation pledge. The outlook is stable. Bond proceeds will be used to refund on a current and advanced basis, certain previously issued GO bonds of the state. 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 a
