S&P Global Ratings assigned its 'AA+' long-term rating to the State of Wisconsin 's $480.26 million series 2026A general obligation (GO) bonds. At the same time, we affirmed our 'AA+' long-term rating on the state's GO debt, our 'AA' rating on its appropriation-secured debt, and our 'AA-' rating on its moral obligation debt outstanding. We also affirmed our 'A+' rating on Wisconsin Center District 's appropriation bonds (Milwaukee Arena project). The outlook on all ratings is stable. ENGLEWOOD (S&P Global Ratings) Jan. 16, 2026—S&P Global Ratings today took the rating actions listed above. In general, social factors do not have a material influence on our credit rating analysis for Wisconsin, although the aging of the state's working-age population and slowing
