S&P Global Ratings assigned its 'AAA' long-term rating to Wisconsin's roughly $150 million 2024 series A (green bonds) environmental improvement fund (EIF) revenue bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on Wisconsin's outstanding EIF revenue bonds. The outlook is stable. The state will use the 2024 series A bond proceeds to fund both the state match and pledged direct loans for its state revolving fund (SRF) program. The bonds are secured by pledged loan repayments, revenue eligible under the state intercept, and available funds outlined in the resolution--including the loan and revenue funds. Municipal program loans generally have a general obligation or revenue pledge. Additionally, the program is a mandatory state-shared intercept program that
