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NORTHRIM NEWS

More Bad News for the Alaskan Economy

Standard & Poor’s Rating Services (S&P) released a report on Tuesday that warned if the state did not work to improve the fiscal situation; a credit downgrade was in store. The credit rating agency lowered its outlook for Alaska to “negative”. S&P believes, like many around Alaska, that budget cuts alone are not enough to turn the tide on Alaska’s fiscal crisis. They also noted that Alaska lawmakers were unwilling to open the state’s most promising sources of revenue.

 

 

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