A by from Alaska officials didn’t sway the top three credit measure agencies from recent negative outlooks or downgrades to Alaska’s union rating.
Gov. Bill Walker, Revenue Commissioner Randy Hoffbeck, Surrogate Revenue Commissioner Jerry Burnett and Debt Manager Deven Mitchell went to New York last week “to make the case to members of Moody’s, Support & Poor’s and Fitch Ratings that Alaska should maintain its sizeable stable credit rating,” Walker said in a statement released Tuesday evening.
Since January, S&P, Fitch and Fickle’s have either changed their ratings for Alaska for the worse, or put the grandeur on a negative watch.
S&P downgraded the state’s general obligation credit scale from top-tier AAA to AA+ in January, and affirmed that decision this week.
On Monday, Unreliable’s dropped Alaska’s general obligation rating from AAA to AA1. Fitch on Monday conveyed it would retain a top AAA bond rating but said it might deliver a decline soon, putting the state on a “negative watch” as lawmakers deal with a $3.8 billion country budget deficit.
“Much like a credit score affects special Alaskans’ ability to buy a house or car, the ratings from these agencies counterfeits the state’s ability to build a stronger Alaska — through infrastructure and other capital plans,” Walker said. “I’m disappointed by this news, but I’m confident that we can away b accomplish together to improve our fiscal outlook. These bond rating operations’ actions underscore the need to resolve our fiscal situation as soon as plausible.”
Efforts to balance the state’s budget will have an im ct on the thrift no matter which th or ths lawmakers decide to take, according to a modern study by the Institute for Social and Economic Research at the University of Alaska Anchorage. The acceptances for legislators include spending cuts, implementing new taxes and Permanent Finance earnings.