Moody's gives A1 to Wisconsin refunding bonds

Moody's Investors Service said it assigned an A1 rating to the State of Wisconsin's approximately $965 million of general fund annual appropriation refunding bonds of 2008, series A (taxable fixed-rate) and series B (taxable floating-rate notes).

At the same time, the outlook was revised to negative from stable on the state's general obligation debt and annual appropriation bonds.

The outlook change affects about $4.4 billion of G.O. bonds, which are rated Aa3, and $850 million of 2003 series A appropriation bonds, which are rated A1.

Sale of the 2008 bonds is expected on March 25.

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