S&P Global Ratings assigned its 'AAA' long-term rating to the State of Wisconsin 's approximately $100 million environmental improvement fund (EIF) revenue bonds, 2025 series A (green 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. NEW YORK (S&P Global Ratings) July 23, 2025--S&P Global Ratings today took the rating actions listed above. The stable outlook reflects S&P Global Ratings' expectation over the next two years that pledged loan revenue will likely continue to provide high levels of overcollateralization consistent with an extremely strong financial risk score, supported by the program's low loan delinquencies and strong policies and procedures. We could lower the rating in the