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Alaska's GO SPUR Raised To 'AA+' On Substantial Budget Surpluses, New Oil Production Tax Mar 08

  • ID: 1927491
  • March 2008
  • Region: Alaska
  • Standard & Poors
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SAN FRANCISCO (Standard & Poor's) March 27, 2008-- Standard & Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'AA+' from 'AA' on Alaska's series 2003A GO bonds and its series 2000 lease revenue bonds. In addition, Standard & Poor's raised its rating and SPUR to 'AA' from 'AA-' on Alaska's outstanding certificates of participation (COPs) and series 2005 lease revenue refunding bonds. The outlook is stable. "The raised ratings reflect the state's very substantial budget surpluses in 2008 and 2009 and the successful implementation of a new, more progressive tax on oil production," said Standard & Poor's credit analyst Ian Carroll. "The state also enjoys a moderate debt burden, as it funds most of its capital projects...

Companies mentioned in this report are: Alaska
Action: Outlook: Stable
Action: Upgraded

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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