Standard & Poor's Ratings Services said it raised its long-term rating on the Alaska Municipal Bond Bank's (AMBB) debt outstanding to AA-plus.
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At the same time, it assigned a AA-plus long-term rating to AMBB's general obligation bonds 2014A and B series one. The bond bank is a public corporation of, and benefits from certain credit support by, the state of Alaska (AAA/stable). The outlook is stable.
"The upgrade reflects the strength of the appropriation pledge and legislature's demonstrated commitment to including the appropriation in the state's annual operating budget," said Standard & Poor's credit analyst Gabriel Petek.
