KBRA Releases Report Assigning AAA and Stable Outlook to State of Wisconsin GO Bonds
NEW YORK–(BUSINESS WIRE)–On May 9, 2022, KBRA assigned a long-term AAA rating with a stable outlook to the 2022 Wisconsin State (State) General Bonds, Series A. Concurrently, KBRA affirmed the AAA rating at long-term with a stable outlook on $6.8 billion of general bonds outstanding (GO); the short-term K1+ rating of the GO Commercial Paper (CP) program and the GO Extendible Municipal Commercial Paper (EMCP) program; and the long-term AA+ rating with a stable outlook on outstanding Master Lease certificates of participation (COP). The long-term COP rating is derived from the state’s long-term GO rating and an assessment of the factors discussed in the KBRA’s Annual US State Appropriation Bond Rating Methodology.
Click here to see the report. To access relevant notes and documents, click here.
Further information on key credit considerations, sensitivity analyzes that consider factors that may affect these credit ratings and how they could lead to an upgrade or downgrade, and ESG factors (where they are a key factor in changing the credit rating or rating outlook) can be viewed in the full rating report mentioned above.
A description of all substantially significant sources that were used to prepare the credit rating and information on the methodology(ies) (including all significant models and sensitivity analyzes of the main relevant rating assumptions, the where applicable) used to determine credit rating are available in the information disclosure form(s) located here.
Information on the meaning of each rating category can be found here.
Additional information relating to this rating metric is available in the information disclosure form(s) referenced above. Additional information regarding KBRA’s policies, methodologies, grading scales and disclosures is available at www.kbra.com.
Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the United States Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a rating agency with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a rating agency with the UK Financial Conduct Authority under the temporary registration scheme. In addition, KBRA is designated as the Designated Rating Agency by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a credit rating provider.