Alaska's Bond Rating upgraded to AAA

Discussion in 'Financial Cents' started by BTPost, Jan 7, 2012.

  1. BTPost

    BTPost Stumpy Old Fart,Deadman Walking, Snow Monkey Moderator

    S&P upgrades Alaska bond rating to AAA
    BECKY BOHRER Associated Press

    JUNEAU, Alaska — Standard & Poor's has upgraded its bond rating for the state of Alaska to AAA, its highest, citing what it calls "exceptionally strong fiscal practices" incorporated into the budget process.
    The rating is on Alaska's general obligation debt. The agency also assigned the rating to the state's $173.5 million in general obligation refunding bonds.
    Gov. Sean Parnell says the upgrade confirms that the state takes steps needed to ensure its future with responsible resource development and budget discipline.
    Standard & Poor's says the ratings reflects such things as strong financial management, continued oil production decline and mineral potential, the state's moderate debt load and "relatively large" lingering unfunded pension liabilities.
    On a 4-point scale, with 1.0 being strongest, the agency gave Alaska a composite 1.7.
    Sapper John and Cephus like this.
  2. radpug

    radpug Monkey+

    So 1 stated out of 50 is being responsible.
    The liberal progressives haven't invaded or they are to
    Stupid to be responsible for themselves and dont survive a winter.

    Go ALaska!
    Cephus likes this.
  3. larryinalabama

    larryinalabama Monkey++

    Whats that a A for all 3 residents? LOL
  4. Quigley_Sharps

    Quigley_Sharps The Badministrator Administrator Founding Member

    I wish they would put more money in the State Troopers budget, They almost ruin the series show complaining about how many miles they have to patrol and so few of them...LOL
  5. DKR

    DKR Raconteur of the first stripe

    Maybe not so much.

    USAToday begs to differ - How states manage their money

    Then again, Forbes has this to say-
    (The United States Of Debt -

    Then there is the whole tax thing....

    Since 1990, Alaska's state and local tax burden has consistently been the nation's lowest. Alaska's 2009 tax burden of 6.3% of income is well below the national average of 9.8%. Alaska's tax burden has decreased overall from 11.0% (12th nationally) in 1977 to 6.3% (50th nationally) in 2009. Alaskans pay $2,973 per capita in state and local taxes.

    The state with the healthiest debt situation is Utah, by our count. The Beehive State finished first overall thanks to AAA credit ratings from both Moody's and S&P, as well as debt per capita of only $447, according to Moody's. Unemployment this year is expected to average a mere 6.9%, fourth best in the country.

    Utah's state and local tax burden is currently estimated at 9.7% of income (20<sup>th</sup> nationally), just below the national average of 9.8%. Compared to the 1977 data, Utah had a tax burden of 10.2% (22<sup>nd</sup> nationally), decreasing 0.4% overall. Currently Utah taxpayers pay $3,349 per capita in state and local taxes.

    I can live with this - so long as the oil money keeps flowing. Once that stops - well, Alaska won't be a fun place to live.
  6. Tikka

    Tikka Monkey+++

    USA Today rated Michigan in the top group? :D
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