...BOSTON (S&P Global Ratings) Dec. 12, 2017--S&P Global Ratings assigned its '##' long-term rating to the State of Wisconsin's general obligation (GO) 2017 series 3 bonds. S&P Global Ratings also affirmed its '##' long-term rating and underlying rating (SPUR) on the state's previously issued GO bonds. The outlook on all long-term ratings is stable. The '##' rating on Wisconsin's GO bonds reflects our view of the state's: + Governmental framework supportive of credit quality, with a constitutional balanced-budget requirement and a statutory provision that gives GO debt service the first claim on state revenue; + Demonstrated ability to make midyear budget corrections; and + Well-funded pension system and only an implicit unfunded other postemployment benefit (OPEB) liability. These strengths are in part offset by the state's: + Economic and job growth rates that have persistently lagged those of the nation and some economic vulnerability stemming from the relatively large manufacturing sector,...
