Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA-plus from AA on the Municipality of Anchorage, Alaska's general obligation bonds outstanding.
At the same time, Standard & Poor's assigned its AA-plus rating to Anchorage's series 2012A GO bonds, 2012B GO refunding bonds, 2012C GO school bonds, and 2012D GO school refunding bonds. The outlook is stable.
"The raised rating reflects our view of the municipality's strong and improved financial position and policies, as well as the continued diversification of the economic base," said Standard & Poor's credit analyst Jen Hansen.
The ratings reflects the municipality's: central role in the state and regional economy; very strong income levels; stable property tax base; and strong fund balances.
The municipality's GO debt outstanding after this sale will total $1.2 billion.