Wisconsin’s bond rating upgraded, continuing economic rebounds

Generic picture of money.
Generic picture of money.(Source: Associated Press)
Published: Aug. 27, 2021 at 3:03 PM CDT|Updated: Aug. 27, 2021 at 3:33 PM CDT
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MADISON, Wis. (WMTV) - Gov. Tony Evers announced Friday that Wisconsin’s bond rating has been upgraded by multiple agencies. The Governor’s Office said this supplements the state’s economic rebounds that have been occurring in recent months.

Wisconsin’s July unemployment rate has remained at 3.9% since April and is among the lowest in the nation, nearly returning to pre-pandemic levels, a release said.

The release added the state is committing to two-thirds funding for public schools for the first time in two decades, while also providing one of the largest tax cuts in state history.

“Today’s news is yet another sign that we aren’t just bouncing back to the way things were,” Gov. Evers said. “We’re making the kind of strategic, long-term investments that will ensure our state economy and our communities are stronger and more resilient than they were before the pandemic hit.”

Kroll Bond Rating Agency upgraded its long-term rating to AAA from AA+ for General Obligation (GO) Bonds, and S&P Global Ratings raised its long-term rating to AA+ from AA, according to a release.

The upgraded bond ratings will help Wisconsin borrow money at lower interest rates, resulting in lower debt service costs to Wisconsin taxpayers.

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