S&P Global Ratings assigned its 'AAA' long-term rating to Wisconsin's approximately $28 million 2025 series 1 (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 EIF revenue bonds outstanding. The outlook is stable. Program bonds are secured by the trust estate, which consists primarily of cash flows provided by pledged loans, payments received by the state related to borrower defaults, other indenture funds, and interest earnings. Following the issuance of the 2025 series 1 bonds, the two programs will have approximately $2.4 billion of loans outstanding, to support approximately $430 million in bonds. The bonds are secured by pledged loan repayments, revenue eligible under the state intercept,
