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Alaska; Appropriations; General Obligation; Moral Obligation Jun 11
Standard & Poors, June 2011
Abstract
Standard & Poor's Ratings Services affirmed its 'AA+' rating, and stable outlook, on Alaska's general obligation (GO) debt, which is backed by the full faith and credit of the state. Standard & Poor's also affirmed its 'AA' ratings on various bonds secured by state lease appropriation ratings, and its 'A+' rating on various bonds secured by a state moral obligation. Standard & Poor's Ratings Services 'AA+' rating, and stable outlook, on Alaska reflects what we view as the state's: Strong financial management, with very significant financial reserves and generally conservative forecasting--a prudent policy in view of the state's revenue reliance on what we see as volatile oil-derived revenues, which fluctuate with the price of oil. Financial flexibility is enhanced, we...
Companies mentioned in this report are: Alaska
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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