ANCHORAGE – S&P Global Ratings recently improved Anchorage’s bond rating outlook from negative to stable and reaffirmed its AAA bond rating. An AAA bond rating with a stable outlook is the highest rating that the S&P grants to local governments.
“Our improved outlook reflects our fiscal strength and resiliency,” stated Mayor Ethan Berkowitz.
The improvement to a stable outlook reflects the Municipality’s budgetary flexibility and steadiness, despite the uncertainty at the state level. S&P noted Anchorage’s efforts to diversify its economy as a reason for the improvement.
“Anchorage is a great investment and we are pleased S&P agrees,” said Anchorage CFO Robert Harris.
Under current borrowing conditions, a rating downgrade would cost Anchorage an estimated $690,000 on a typical municipal bond issuance over 20 years.
For more information, contact Myer Hutchinson at (907) 343-7133.
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