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

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.