...CHICAGO (S&P Global Ratings) June 1, 2016--S&P Global Ratings assigned its 'A' long-term rating to Wisconsin Center District's series 2016 appropriation revenue bonds. The outlook is stable. "The rating reflects the general creditworthiness of the state of Wisconsin," said S&P Global Ratings analyst Carol Spain. It also reflects our view of the: + District's pledge of annual state appropriations equal to $8 million per year over the life of the bonds, which, pursuant to a memorandum of understanding (MOU), the state of Wisconsin will pay directly to the bond trustee; and + Non-standard appropriation terms, which, in our view, represent a weaker relationship between the series 2016 bonds and the state of Wisconsin than the state's other outstanding appropriation-backed obligations. The series 2016 bonds will finance a portion of the costs of the development and construction of sports and entertainment arena facilities, primarily to host Milwaukee Bucks home games. Due to pledge of state...
