S&P rates Wisconsin Housing bonds AA/A-1+

Standard & Poor's said it assigned an AA/A-1+ rating to Wisconsin Housing and Economic Development Authority's $86.175 million variable-rate revenue home ownership bonds, series 2008A, due Sept. 1, 2038, $65.825 million series A due March 1, 2031 and $38 million 2008B variable-rate revenue home ownership revenue bonds due March 1, 2033.

The outlook is stable.

The short-term A-1+ component of the rating on the variable-rate series 2008A and 2008B bonds reflects a standby bond purchase agreement provided by JPMorgan Chase Bank NA (AA/A-1+).

Until the series 2008A and 2008B bond proceeds are used to originate loans, they will be held invested in an investment agreement, according to the agency.

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