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Alaska; Appropriations; General Obligation; Moral Obligation Jan 12
Standard & Poors, January 2012
Standard & Poor's Ratings Services raised its rating to 'AAA' from 'AA+' on Alaska's general obligation (GO) debt. At the same time, we raised our ratings on the state's appropriation-backed certificates of participation to 'AA+' and 'AA'. We also raised our rating on the state's moral obligation backed debt to 'AA' from 'A+'. In addition, we assigned our 'AAA' rating to Alaska's $173.5 million in GO refunding bonds, series 2012A, the proceeds of which the state expects to use to refund a portion of the series 2003A GO bonds outstanding. The outlook is stable. The rating actions reflect our view that the state has now incorporated certain exceptionally strong fiscal practices into its budgetary process, which we believe have improved...
Companies mentioned in this report are: Alaska
Action: New Rating
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Research Type: Full Analysis