SAN FRANCISCO — Standard & Poor's has raised Alaska's general obligation debt rating to AAA from AA-plus because of a change in the state's financial management methods.

"Alaska's economy and state finances are highly resource dependent, with approximately 90% of its general fund revenues being oil-related," Standard & Poor's analyst Gabriel Petek said in a statement. "But, recognizing the volatility inherent in an oil-based economy, the state's financial management has adjusted by using methods to, in our view, significantly mitigate the downside effects of oil price declines."

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