The credit rating agency Standard & Poor’s has upgraded the State of Alaska’s bond rating to AAA, the agency’s highest rating. The announcement, along with a previous upgrade by Moody’s Investors Service, constitutes the highest credit rating in state history. This is a result of prudent financial management of state finances. The Legislature has taken the lead on this issue by instituting strong fiscal practices and placing $16 billion into state savings. The higher bond rating will save our state tens of millions of dollars in financing future bond sales.
While high oil prices have provided the state a healthy budget surplus, it’s important to ensure Alaska’s finances stay strong by enhancing state savings, avoiding wasteful spending, and providing the public works infrastructure that will help grow our economy.
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