Governor Walker called the latest downgrade concerning but not surprising following legislatures convening their second special session this year without resolution on a fiscal plan.
JUNEAU, Alaska (AP) — Alaska's credit rating has taken another hit in the face of a multibillion-dollar budget deficit that state officials have yet to close.
With Monday's downgrade by Moody's Investors Service, the state has seen its credit rating lowered by all three major rating agencies, including Fitch Ratings and Standard & Poor's Ratings Services.
In a statement, Gov. Bill Walker called the latest downgrade concerning but not surprising, noting that Moody's cited the state's "political inability" to address the deficit.
Walker proposed new taxes and tax increases and use of Alaska Permanent Fund earnings to help pay for state government. The tax pieces failed to get traction, and the permanent fund bill stalled in the gridlocked House.
State lawmakers recently ended their second special session this year without resolution on a fiscal plan.
More from News of the North
VIDEO - Two Hikers Rescued via Helicopter in Glacier Bay National Park
Juneau, AK (KINY) - The Sitka Coast Guard Air Station helped out the National Park Service during a rescue of two hikers in the Glacier Bay National Park on Saturday.
Man goes overboard on cruise ship
Glacier Bay National Park, Alaska (KINY) The National Park Service said the search for the 69 year old man has been terminated.
EMS has busy night
Juneau, Alaska (KINY) Assistant Capital City Fire Rescue Chief Tod Chamber said a roll over crash and two EMS emergencies were reported at the same time overnight.
Perseverance Theatre Announces 40th Season
Juneau, AK (KINY) - The Perseverance Theatre is gearing up for its 40th season, after a period where cuts had to be made and a 40th season seemed unlikely.
JPD to Participate in National Night Out on August 7th
Juneau, AK (KINY) - The Juneau Police Department will be taking part in the National Night Out on Tuesday, August 7th.
Land-In-Trust Applications by Alaska Tribes Under Review
JUNEAU, Alaska (AP) — The Trump Administration is re-examining whether Alaska tribes can create sovereign areas.
Union head worried about three way Governor's race
Anchorage, Alaska (KINY) Vince Beltrami, president of the Alaska AFL-CIO said Bill Walker and Mark Begish need to join forces or one of them needs to drop out.
Coast guard crew sets record
Sitka, Alaska (KINY) The vessel is different but the crew is not.
Efforts continue to remove Lumberman
Juneau, Alaska (KINY) The new head of the US Coast Guard sector Juneau is offering help to city and state governments.
Bear suspected in mauling shot to death
Anchorage, Alaska (KINY) A mother and her two cubs were shot by state officials from a helicopter after being sited earlier today.
Marijuana ad plagues newspaper
Haines, Alaska (KINY) The mailing of this week's Chilkat Valley News was halted by the US Postal Service due to an advertisement for a small marijuana business.
Glacier expects return of bear and salmon show
Juneau, Alaska (KINY) The U.S. Forest Service will close the back side of Steep Creek Trail beginning July 16 for the annual return of spawning salmon near Mendenhall Glacier Visitor Center.