S&P warns further downgrades may be on horizon

Standard & Poor’s downgraded Alaska’s credit rating on Tuesday, Jan. 5, 2016, citing low oil prices and a difficult political climate.
Standard & Poor’s downgraded Alaska’s credit rating Tuesday after months of warnings. With plunging oil prices wreaking havoc on the state’s budget, the agency knocked Alaska down a notch from the top AAA rating it’s held for the last four years.
The credit rating affects how much the state — and local c