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Alaska's General Obligation Debt Rated 'AA+'; Outlook Stable Mar 09
Standard & Poors, March 2009
NEW YORK (Standard & Poor's) March 17, 2009--Standard & Poor's Ratings Services assigned its 'AA+' long-term rating, and stable outlook, to Alaska's $165 million general obligation (GO) debt. "The rating reflects our opinion of Alaska's strong financial management, with very significant financial reserves to weather the current downturn in oil prices," said Standard & Poor's credit analyst David Hitchcock. "We believe this is a prudent policy in view of the state's revenue reliance on oil-derived revenues and the significant volatility in the price of oil," Mr. Hitchcock added. The rating also reflects what we view as the continued extension of the North Slope oil production curve and a gradual slowing of the rate of decline in total oil production due...
Companies mentioned in this report are: Alaska
Action: New Rating
Action: Outlook: Stable
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.