...NEW YORK (S&P Global Ratings) May 1, 2017--S&P Global Ratings assigned its '##+' long-term rating to Wisconsin's 2017 series 1 transportation revenue bonds. At the same time, we affirmed our '##+' long-term rating and underlying rating (SPUR) on the state's approximately $1.9 billion of existing parity debt. We also affirmed our 'A-1+' short-term rating on the state's roughly $88.7 million of subordinate transportation revenue commercial paper (CP) notes. The short-term rating on the CP notes reflects the credit quality of the revenue pledged to the notes. The state has arranged for backup liquidity support for the CP notes from State Street Bank. The outlook, where applicable, is stable. "The ratings reflect our view of the strength and quality of the pledged revenue, which include statewide vehicle registration fees and other vehicle registration-related fees," said S&P Global Ratings credit analyst Carol Spain. The ratings also reflect Wisconsin's strong historical and projected debt...
