by Rachel Waldholz, APRN
The nation's third major credit ratings agency has weighed in on Alaska's fiscal health. New York-based Fitch Ratings announced yesterday [June 14] that it's lowering the state's long-term credit rating from triple-A [AAA] -- its highest rating -- to double-A-plus [AA+], citing the state's failure to come up with solutions to its massive budget deficit. Earlier in the year, the other two major credit raging agencies -- Standard and Poor's and Moody's Investors Service -- also downgraded Alaska's bond rating. The credit downgrades make it more expensive for the state to borrow money.