ANCHORAGE — S&P Global Ratings has made good on its warning, joining Moody’s Ratings Service in downgrading the State of Alaska’s credit ratings once again as legislators struggle to mend the state’s increasingly tattered finances.
S&P knocked the State of Alaska-backed general obligation rating down one notch to AA from AA+ early July 18, citing a “continued lack of agreement on fiscal reforms to return the state to structural balance,” in a statement accompanying the action.
On July 13, Moody’s downgraded Alaska a notch on its scale, from Aa2 to Aa3 for general obligation debt, which translates to a final AA- rating.
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