July 14, 2017 / 1:26 AM / 10 days ago

BRIEF-Moody's downgrades Alaska to AA3, outlook remains negative

1 Min Read

July 13 (Reuters) -

* Moody's downgrades Alaska to AA3; outlook remains negative

* Moody's on Alaska - downgrade reflects ongoing structural budget imbalance, small economy with concentration in energy production, large fixed costs, heavy pension burden

* Moody's on Alaska- negative outlook includes large structural imbalance that state has still not rectified and ongoing spending of state's reserves

* Moody's on Alaska - downgraded the state's lease revenue bonds, to A1 from AA3, and its moral obligation bonds, to A2 from A1

* Moody's on Alaska - affirmed the Alaska municipal bond bank's general obligation rating at A1 Source text: bit.ly/2tOB2d2

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