Summary: Wisconsin; General Obligation

S&P Global Ratings assigned its 'AA' long-term rating to Wisconsin's general obligation (GO) bonds of 2020, series B. The outlook is stable. The GO bonds of 2020, series B and all outstanding parity GO debt are backed by the state's full faith, credit, and taxing power, which are irrevocably pledged to make principal and interest payments on the bonds. The constitution requires that the legislature provide for bond payment by appropriation. To further protect bondholders, GO debt service payments have a first-priority charge on all state revenue and debt service payments cannot be prorated or reduced by Wisconsin's secretary of administration, according to state statute. Wisconsin will use bond proceeds to finance capital improvements. For more information on the state's

...S&P Global Ratings assigned its '##' long-term rating to Wisconsin's general obligation (GO) bonds of 2020, series B. The outlook is stable. The GO bonds of 2020, series B and all outstanding parity GO debt are backed by the state's full faith, credit, and taxing power, which are irrevocably pledged to make principal and interest payments on the bonds. The constitution requires that the legislature provide for bond payment by appropriation. To further protect bondholders, GO debt service payments have a first-priority charge on all state revenue and debt service payments cannot be prorated or reduced by Wisconsin's secretary of administration, according to state statute. Wisconsin will use bond proceeds to finance capital improvements. For more information on the state's other securities, see our full analysis on Wisconsin (published Jan. 21, 2020, on RatingsDirect)....

Summary