Standard&Poor's Ratings Services affirmed its 'AA' rating on Wisconsin's series 2009 petroleum inspection fee (PIF) revenue bonds. At the same time, Standard&Poor's affirmed its 'A-1+' short-term rating on Wisconsin's extendible municipal commercial paper (EMCP) outstanding. The 'A-1+' rating on the EMCP reflects the general creditworthiness and historical market access of the PIF revenue bond program, the senior-lien status of EMCP interest, and bonding capacity sufficient to cover EMCP principal. The outlook on the long-term rating is stable. Additional credit factors of the PIF revenue bond program include our view of: The underlying strength of Wisconsin's diverse economy; Strong historical and projected debt service coverage (DSC) of more than 2.4x; Adequate legal provisions, including a 2x additional
