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Alaska; Appropriations; General Obligation Dec 06
Standard & Poors, Dec 2006
Abstract
Standard & Poor's Ratings Services affirmed its 'AA' underlying rating (SPUR) on Alaska's GO debt and its 'AA-' SPUR on the state's certificates of participation and lease revenue bonds. The ratings reflect the state's strong general credit characteristics, which include: Strong financial management, with prudent reserve policies in place to maintain and enhance significant financial reserves--bolstered significantly by the sustained very high per barrel prices for oil in the world markets; The continued extension of the North Slope oil production curve and a gradual slowing of the rate of decline in total oil production due to continued investments by oil companies in exploration and development activity in the state; and A moderate debt burden, as the state continues to fund...
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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