KBRA Releases Report Assigning AAA with a Stable Outlook to State of Wisconsin Transportation Revenue Bonds

March 8, 2021 5:25 PM EST

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NEW YORK--(BUSINESS WIRE)-- On March 5, 2021, Kroll Bond Rating Agency (KBRA) assigned a long-term of AAA rating with a Stable Outlook to the Transportation Revenue Bonds, 2021 Series A and Transportation Revenue Refunding Bonds, 2021 Series 1 (Taxable) issued by the State of Wisconsin (the State). Concurrently, KBRA affirmed the long-term AAA rating with a Stable Outlook on approximately $1.7 billion of outstanding Transportation Revenue Bonds (TRBs). TRBs are secured by a first lien pledge of Program Income.

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


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 www.kbra.com.

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.

Analytical Contacts

Douglas J. Kilcommons, Managing Director (Lead Analyst)
+1 (646) 731-3341

Linda Vanderperre, Senior Director
+1 (646) 731-2482

Jozelle Cox, Analyst
+1 (646) 731-1227

William Cox, Global Head of Corporate, Financial and Government Ratings
+1 (646) 731-2472

Karen Daly, Senior Managing Director (Rating Committee Chair)
+1 (646) 731-2347

Business Development Contact

Bill Baneky, Managing Director
+1 (646) 731-2409

James Kissane, Senior Director
+1 (213) 806-0026

Source: Kroll Bond Rating Agency

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