Summary: Fairbanks-North Star Borough, Alaska; General Obligation Nov 10

Standard & Poors, November 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating to Fairbanks-North Star Borough, Alaska's series 2010O general obligation (GO) refunding bonds. In addition, Standard & Poor's affirmed its 'AA' rating and underlying rating (SPUR) on the borough's outstanding GO debt. The ratings reflect our view of the borough's: Position as a regional economic center and second-largest metropolitan area in the state; Economic reliance on government spending, natural resources, and tourism; and Strong financial management, as demonstrated by continued strong reserve levels and low debt levels. The GO bonds are secured by an unlimited ad valorem tax pledge of the Fairbanks-North Star Borough. Proceeds from the series O bonds will be used to refund the borough's outstanding 1999 series B bonds....

Companies mentioned in this report are:
- Fairbanks-North Star Boro

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Fairbanks-North Star Boro

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