JUNEAU \u2014 Alaska\u2019s credit rating has taken another hit in the face of a multibillion-dollar budget deficit that state officials have yet to close.<\/p>\n
With Monday\u2019s downgrade by Moody\u2019s Investors Service, the state has seen its credit rating lowered by all three major rating agencies, including Fitch Ratings and Standard & Poor\u2019s Ratings Services.<\/p>\n
In a statement<\/a>, Gov. Bill Walker called the latest downgrade concerning but not surprising, noting that Moody\u2019s cited the state\u2019s \u201cpolitical inability\u201d to address the deficit.<\/p>\n Walker proposed new taxes and tax increases and use of Alaska Permanent Fund earnings to help pay for state government. The tax pieces failed to get traction, and the Permanent Fund bill stalled in the gridlocked House.<\/p>\n State lawmakers recently ended their second special session this year without resolution on a fiscal plan.<\/p>\n —<\/p>\n More state stories:<\/strong><\/p>\n Alaska’s credit rating hasn’t been downgraded \u2014 yet<\/a><\/p>\n As Legislature balks, state’s credit rating continues to fall<\/a><\/p>\n Senate follows House’s lead, adjourns without budget fix<\/a><\/p>\n