The state of Alaska received some good news from credit rating agency Standard & Poor\u2019s on Tuesday.<\/p>\n
In a new report, the agency said it is taking Alaska off its watchlist for an immediate downgrade, even as it stays bear-ish on the state\u2019s long-term financial health.<\/p>\n
S&P, Moody\u2019s Investors Service and Fitch Ratings are the three principal agencies used when the state borrows money for projects. When ratings are high, the state is considered a better risk and it pays less interest on that borrowing. When ratings are lowered, the state pays more interest.<\/p>\n
In Tuesday\u2019s report, S&P said $1.3 billion in spending vetoed by Gov. Bill Walker from this year\u2019s state budget improved the state\u2019s fiscal health enough to avert a downgrade in the state\u2019s credit rating.<\/p>\n
In a press release, the Alaska Department of Revenue declared, \u201cAlthough Governor Walker\u2019s vetoes provide additional time before the state\u2019s reserves would be depleted, S&P will likely lower the state\u2019s debt ratings in the absence of structural fiscal reform during the 2017 legislative session.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The state of Alaska received some good news<\/a> from credit rating agency Standard & Poor\u2019s on Tuesday. In a new report, the agency said it is taking Alaska off its watchlist for an immediate downgrade, even as it stays bear-ish on the state\u2019s long-term financial health<\/a>. S&P, Moody\u2019s Investors Service and Fitch Ratings are the […]<\/p>\n","protected":false},"author":107,"featured_media":5354,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_stopmodifiedupdate":false,"_modified_date":"","wds_primary_category":4,"footnotes":""},"categories":[4],"tags":[230],"yst_prominent_words":[],"class_list":["post-5353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-state-news"],"_links":{"self":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/posts\/5353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/users\/107"}],"replies":[{"embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/comments?post=5353"}],"version-history":[{"count":0,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/posts\/5353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/media\/5354"}],"wp:attachment":[{"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/media?parent=5353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/categories?post=5353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/tags?post=5353"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.juneauempire.com\/wp-json\/wp\/v2\/yst_prominent_words?post=5353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}