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

PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.
January 10, 2023 GMT

NEW YORK--(BUSINESS WIRE)--Jan 10, 2023--

On January 9, 2023, KBRA assigned a long-term rating of AAA, with a Stable Outlook to the State of Wisconsin’s (the State’s) General Obligation (G.O.) Bonds of 2023, Series A. Concurrently, KBRA affirmed the long-term AAA rating with a Stable Outlook on the outstanding G.O. Bonds; 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 long-term COPs 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 Obligation Rating Methodology. As of January 1, 2023, the State had $6.8 billion of General Obligations, including fixed rate G.O. Bonds, variable rate G.O. FRNs and EMCP Notes, and Variable Rate Demand Obligation (“VRDO”) Notes outstanding.

To access ratings and relevant documents, click here.
Click here to view the report.


Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. In addition, KBRA is designated as a designated rating organization 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.

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CONTACT: Analytical ContactsDouglas J. Kilcommons, Managing Director (Lead Analyst)

+1 (646) 731-3341

douglas.kilcommons@kbra.comLinda Vanderperre, Senior Director

+1 (646) 731-2482

linda.vanderperre@kbra.comWilliam Cox, Global Head of Corporate, Financial and Government Ratings

+1 (646) 731-2472

william.cox@kbra.comKaren Daly, Senior Managing Director (Rating Committee Chair)

+1 (646) 731-2347

karen.daly@kbra.comBusiness Development ContactsWilliam Baneky, Managing Director

+1 (646) 731-2409

william.baneky@kbra.comJames Kissane, Senior Director

+1 (213) 806-0026



SOURCE: Kroll Bond Rating Agency, LLC

Copyright Business Wire 2023.

PUB: 01/10/2023 02:35 PM/DISC: 01/10/2023 02:35 PM