Moody’s downgrades state’s credit rating

Moody’s has downgraded the state’s credit rating again and said the state has a negative outlook.
A report from the credit agency cited multiple reasons for the change, including the state’s $2.5 billion draw from its reserves to cover the budget, its large pension obligation and its continued lack of a long-term fiscal plan. The agency also notes that while the economy of the United States as a whole is growing, Alaska’s economy is shrinking and the state has the highest