Press Release|Public Finance

KBRA Releases Report Assigning AAA Rating, Stable Outlook to State of Wisconsin G.O. Bonds

31 Jan 2024   |   New York


On January 26, 2024, KBRA assigned a AAA rating, with a Stable Outlook to the State of Wisconsin's (the State's) General Obligation (G.O.) Bonds of 2024, Series A; G.O. Refunding Bonds of 2024, Series 1 and G.O. Refunding Bonds of 2025, Series 1 (Forward Delivery). Proceeds of the G.O. Bonds of 2024, Series A will fund various general governmental purposes, while the G.O. Refunding Bonds of 2024, Series 1 and 2025, Series 1 (Forward Delivery) will refund certain outstanding G.O. Bonds on a current or advanced refunding basis. The timing of any such issuance will be dependent upon market conditions.

In addition, KBRA affirmed the long-term AAA rating with a Stable Outlook on outstanding G.O. Bonds and G.O. Flexible Rate Notes (FRNs); the short-term K1+ rating on the G.O. Commercial Paper (CP) Program and G.O. Extendible Municipal Commercial Paper (EMCP) Program; and the long-term AA+ rating with a Stable Outlook on outstanding Master Lease Certificates of Participation (COPs). The COPs long-term rating is derived from the State's long-term G.O. rating and an evaluation of factors discussed in KBRA's U.S. State Annual Appropriation Rating Methodology. As of December 15, 2023, the State had $6.8 billion of general obligations outstanding.

To access rating and relevant documents, click here.

Click here to view the report.

About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1003129

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