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

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

  • Published: March 2008
  • Region: Alaska
  • Standard & Poors

Abstract
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

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