A new review by analysts from New York City-based Kroll Bond Rating Agency has delivered Alaska’s most positive fiscal checkup in years. Via AlaskaBeacon
KBRA’s analysis concluded that the state currently holds a “moderate” level of debt, that its pension liabilities are similarly moderate, and that the state still has “exceptionally strong” financial reserves, even though the balances of both the Constitutional Budget Reserve and the spendable portion of the Alaska Permanent Fund have diminished in recent years.
“It seems like there has been pretty good stewardship here, particularly in recent years annual inflation-proofing transfers,” said Peter Scherer, a director with KBRA. While the administration of President Joe Biden has curtailed fossil fuel projects generally, his administration approved the Willow oil development on Alaska’s North Slope and has indicated support for the proposed trans-Alaska natural gas pipeline.
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