S&P Global Ratings has assigned its 'A-1+' rating to Wisconsin's 2016A general obligation (GO) commercial paper (CP) notes and affirmed its 'A-1+' rating on Wisconsin's GO CP note program debt outstanding. The 'A-1+' rating is based on the state's: Long-term GO debt rating of 'AA/Stable'; Strong record of capital market access; Strong liquidity, including an appropriately sized line of credit; and Existing bond authorization. Our 'AA' rating on Wisconsin reflects the state's: Governmental framework supportive of credit quality, with a constitutional balanced-budget requirement and a statutory provision that gives GO debt service the first claim on state revenue; Demonstrated ability to make midyear budget corrections, which were necessary in fiscal 2015 because of a midyear budget gap and low general
