Alaska

A sharp rebound in oil prices won't be enough to rescue Alaska from its $3 billion annual spending deficit or protect it from possible further downgrades, Moody's Investors Service said Monday.

Alaska lost its last triple-A rating Tuesday, when Fitch Ratings downgraded the state to AA-plus.

Alaska's legislature passed a budget with a $3.2 billion draw on the state's Constitutional Budget Reserve after rejecting fiscal reforms urged by Gov. Bill Walker.

State budget conditions vary widely as of late fiscal 2016, with the overall picture getting better while states with less diversified economies face significant stress, Standard & Poor's said Wednesday.

Alaska municipalities may bear the brunt of the state’s oil-driven budget crisis.

Moody’s Investors Service has downgraded Alaska to Aa1 from Aaa.

Fitch Ratings has placed Alaska on a negative watch that the agency says should be resolved when the state passes a budget.

Far West issuers sold $83.6 billion of municipal bonds in 2015, a 26.5% increase over the prior year, as refundings continued to drive volume.

The Internal Revenue Service has dropped its audit of Alaska student loan bonds after concluding there were no tax violations warranting any change to the tax-exempt status of the bonds.

Alaska Gov. Bill Walker used Thursday night’s State of the State address to make a forceful call for immediate fiscal reforms and new revenue

A continuing decline in oil prices will strain the budgets of five producing states to varying degrees, according to Standard & Poor's.

Standard & Poor’s downgraded Alaska Tuesday, to AA-plus from AAA, citing persistent low oil prices that have reduced the state government’s revenues.

Alaska Gov. Bill Walker’s proposed budget would retool the state’s oil and gas tax credit system, cut hundreds of millions of spending, and impose an income tax.

Alaska has signed and made public agreements with two major gas companies that will allow a major pipeline project to move forward even if the private firms decide to drop out of it.

Alaska Gov. Bill Walker announced late last week that Alaska has acquired land it needed for a major pipeline project and signed an agreement with British Columbia that could also strengthen the state's economy.

Alaska Gov. Bill Walker has announced two new appointments to the Alaska Gasline Development Corporation Board of Directors, the group responsible for overseeing the agency's efforts to build a natural gas pipeline the governor says is critical to Alaska's financial future.

Some Alaska officials, facing persistent low oil prices that could threaten the state’s triple-A rating, say it needs to change the way it does business, which may include new taxes and changes to the way it handles its large financial reserves.

The Alaska legislature has passed legislation appropriating almost $150 million for a gas pipeline project that Alaska Gov. Bill Walker has said will be key to closing the state's $3.5 billion budget deficit gap.

Alaska Gov. Bill Walker announced Monday that he has accepted financial support from the Federal Emergency Management Agency's Public Assistance Program to address damage caused by an August storm in the North Slope Borough.

Alaska Gov. Bill Walker said he will not introduce a bill to impose a property tax on natural gas leases in major reserve areas after receiving written assurances from two industry giants that they will make available their share of Alaska’s North Slope gas to a future gas pipeline project.