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Fitch rates Wisconsin's G.O. CP F1+
Fitch Ratings said it gave an F1+ rating to the State of Wisconsin's $950 million general obligation extendible municipal commercial paper program.
About $452 million of the bonds will be offered beginning on Feb. 1.
Fitch also affirmed its F1+ rating on $452 million of outstanding extendible commercial paper under the previous program, which is expected to be repaid within the next 90 days.
As the notes mature, they will be paid from rollover notes, G.O. bonds authorized to fund the notes, G.O. commercial paper or other state funds.
The rating of the new commercial paper is partly based on the credit quality of the bonds that will fund the notes. Wisconsin's G.O. bonds have an AA- rating with stable outlook from Fitch.
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