Alaska

Most of the oil states have gone into recession, S&P Global Ratings said in a new report.

Alaska Gov. Bill Walker's $4.2 billion fiscal year 2018 contains a familiar proposal.

Alaska is unlikely to find another good opportunity to issue pension obligation bonds soon after the last-minute halt of a more than $2 billion sale several days ago, the state’s debt manager said.

Alaska Gov. Bill Walker called off a planned $2.35 billion sale of pension obligation bonds citing a lack of legislative support.

Alaska’s coming $2.3 billion pension obligation bond deal will drive the Frontier State to another downgrade, but neither that or other recent downgrades is seen as an obstacle to the state’s desired pricing.

S&P Global Ratings said it anticipates lowering Alaska’s various credit ratings one notch after the state closes the pension obligation bond deal it plans this month.

Alaska has authorized up to $3.5 billion of pension obligation bonds it hopes to sell in late October, though a broken office-building lease raised one observer's doubts about the state's willingness to stand behind "subject to appropriation" pledges.

Next month Alaska will pay out some $657 million as part of its annual dividend to its citizens, a drastically reduced amount that Gov. Bill Walker is hoping will hammer home the need for significant fiscal reform in the state.

Weeks after sweeping financial overhauls he advocated failed in the state legislature, Alaska Gov. Bill Walker announced he will travel to Southeast Asia to promote natural gas sales.

Alaska’s ratings have been affirmed and the state is no longer on S&P Global Ratings’ CreditWatch, where it had been placed on review for possible downgrade since June 9.