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Credit rating firms issue positive reports for Alaska

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Credit rating firms issue positive reports for Alaska


By Andrew Kitchenman, Alaska Beacon

Updated: 2 hours ago Published: 2 hours ago

The two largest credit rating firms issued positive reports for Alaska’s state government this spring, noting growing state budget reserves and progress on future North Slope oil projects.

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S&P upgraded Alaska’s rating, while Moody’s revised the state’s rating outlook from stable to positive on April 30.

Credit ratings affect how much it costs the state government to borrow money and act as a thermometer for the health of state finances.

“It signals to the market that there’s economic activity and interest in the state,” said Adam Crum, commissioner of the state Department of Revenue.

Crum said after a previous credit rating improvement, an oil company told state officials their investors felt Alaska was a safer investment.

“We’ve heard for like 10 or 12 years, Alaska’s on the decline — we are a little bit, on the population side. But we’re starting to see a growth in the long-term picture of economic activity that we want the market to see,” Crum said. “And we want to get this like a snowball, and it gets bigger and bigger with more investment.”

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The state’s credit ratings deteriorated between 2016 and 2020, then stabilized and are now improving.

In a credit opinion May 6, Moody’s Investor Services staff noted that Alaska’s Constitutional Budget Reserve grew over the past two years and the state expects it to grow modestly in the future, though it remains much smaller than it was a decade ago. The CBR is the state’s largest savings account, other than the Permanent Fund.

While the Moody’s report was largely positive, it pointed out some reasons for concern: While Alaska has kept draws from the Permanent Fund within the limit in state law, how those draws are divided between state operating expenses and Permanent Fund dividends remains unsettled.

And Alaska remains vulnerable to changes in the global oil market.

“While we may not want to implement new taxes or revenue streams, defining some of our large expenditures a little bit more clearly and a little bit more predictably are some of the things that can help us in the long term,” Crum said.

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S&P upgraded Alaska to AA, its third-highest rating level, from AA-. Moody’s maintained Alaska at its fourth-highest rating level, Aa3, while changing the outlook from stable to positive.

Originally published by the Alaska Beacon, an independent, nonpartisan news organization that covers Alaska state government.





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Alaska

Pilot of Alaska flight that lost door plug over Portland sues Boeing, claims company blamed him

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Pilot of Alaska flight that lost door plug over Portland sues Boeing, claims company blamed him


The Alaska Airlines captain who piloted the Boeing 737 Max that lost a door plug over Portland two years ago is suing the plane’s manufacturer, alleging that the company has tried to shift blame to him to shield its own negligence.

The $10 million suit — filed in Multnomah County Circuit Court on Tuesday on behalf of captain Brandon Fisher — stems from the dramatic Jan. 5, 2024 mid-air depressurization of Flight 1282, when a door plug in the 26th row flew off six minutes after take off, creating a 2-by-4-foot hole in the plane that forced Fisher and co-pilot Emily Wiprud to perform an emergency landing back at PDX.

None of the 171 passengers or six crew members on board was seriously injured, but some aviation medical experts said that the consequences could have been “catastrophic” had the incident happened at a higher altitude.

Leani Benitez-Cardona, NTSB aerospace engineer, and Matthew Fox, NTSB chief technical advisor for materials, unpacking the door plug Sunday from Alaska Airlines flight 1282, a Boeing 737-9 MAX, in the materials laboratory at NTSB headquarters in Washington, D.C.NTSB

Fisher’s lawsuit is the latest in a series filed against Boeing, including dozens from Flight 1282 passengers. It also names Spirit AeroSystems, a subcontractor that worked on the plane.

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The lawsuit blames the incident on quality control issues with the door plug. It argues that Boeing caught five misinstalled rivets in the panel, and that Spirit employees painted over the rivets instead of reinstalling them correctly. Boeing inspectors caught the discrepancy again, the complaint alleges, but when employees finally reopened the panel to fix the rivets, they didn’t reattach four bolts that secured the door panel.

The complaint’s allegations that Boeing employees failed to secure the bolts is in line with a National Transportation Safety Board investigation that came to the conclusion that the bolts hadn’t been replaced.



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FIRST ALERT: Heavy snow incoming to Southcentral, Southeast, and Southwest Alaska

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FIRST ALERT: Heavy snow incoming to Southcentral, Southeast, and Southwest Alaska


ANCHORAGE, AK (Alaska’s News Source) – A large winter storm is not only bringing heavy snowfall, but warmer temperatures are approaching! The most impacted areas will include Southcentral, Southeast, and Southwest Alaska, with close to a foot of snow accumulation likely through Tuesday afternoon.

Anchorage will receive a trace of snow overnight and into the early morning hours with about 1 to 3 inches of snow by early Monday afternoon. Close to 5 inches of snow will fall across the Kenai Peninsula and Copper River Basin by Monday afternoon before Tuesday morning brings closer to a foot of snow accumulation across the region. Anchorage and Mat-Su snow totals by Tuesday morning will likely reach 8 to 10 inches.

www.alaskasnewssource.com/weather/alerts/

Juneau will most likely get the heaviest rounds of snow from this storm system with close to a foot of snow likely to accumulate by Monday afternoon with even more snow Tuesday morning. Across Southeast, snow total will vary but Sitka and Ketchikan will receive near 3 to 7 inches. Brace for a few days of heavy snowfall with wind gusts up to 30 miles per hour. Rapid snow accumulation will add hazard to roads and rooftops so be vigilant and weather aware.

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Download the free Alaska’s News Source Weather App.

This storm is already making landfall from the Kuskokwim Delta to Bristol Bay. Expect 8 to 16 inches of snow by Monday night as the heaviest rounds will pass over late Monday morning. Wind gusts up to 40 miles per hour will add blizzard-like conditions with reduced visibility. The Aleutian Chain is bracing for high winds as the gusts up to 70 miles per hour are likely tomorrow. Light rain will pass through as a result of residual moisture of the tail-end of this storm.

The Interior will remain mostly dry tomorrow with mostly cloudy skies stretching over the Brooks Range and into the North Slope. Overnight lows are still quite chilly, sitting near 50 and 60 below zero. Coldest temperatures of the season were record Sunday morning at -50 degrees in Fairbanks, being the coldest temperature since February 2024 which was also -50 degrees. Light snow is possible Tuesday, but otherwise, very calm and quiet weather remains across central and northern Alaska.

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24/7 Alaska Weather: Get access to live radar, satellite, weather cameras, current conditions, and the latest weather forecast here. Also available through the Alaska’s News Source streaming app available on Apple TV, Roku, and Amazon Fire TV.

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Alaska Sees Coldest December In Years | Weather.com

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Alaska Sees Coldest December In Years | Weather.com


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Do you think that Alaska is cold during winter? Of course it is! However, the type of cold the state is experiencing right now if unprecedented. How about having consecutive days of temperatures colder than 40 degrees below zero!

This is true for much of the Alaskan interior, particularly near Fairbanks and in between the Alaska and Brooks mountain ranges.

Over the last four days in Fairbanks, temperatures have struggled to reach 40 degrees below zero, with organizers in Fairbanks even postponing their annual New Year’s Eve fireworks show due to the extreme cold.

The temperature in the final few minutes of 2025 in Fairbanks was 43 degrees below zero.

In other words, conditions are unbearably and dangerously cold, even by local standards in Central Alaska.

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In Chicken, Alaska, located near the Canadian Border, temperatures dropped as low as 62 degrees below zero! Numerous other locations in the eastern Alaskan Interior have seen temperatures between 50 and 60 degrees below zero.

On top of bringing dangerously cold minimum temperatures, this most recent cold snap has also been more prolonged than usual.

Temperatures in much of Alaska have been largely colder than usual since roughly December 5th, 2025

Some regions in eastern Alaska and the neighboring Yukon Territory in Canada have seen combined December temperatures up to 30 degrees below the climatological average.

For reference, the average December temperature in Fairbanks from 1904 to 2025 is 22 degrees below zero with much of central Alaska having similarly cold December temperatures on average. The city has seen a temperature departure of 18.5 degrees below average for December 2025, ranking as the 8th coldest December on record.

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This means that much of east-central Alaska has been stuck between 40 and 50 degrees below for nearly an entire month!

While many factors affect the severity of winters in Alaska, one notable statistic is the unusually high snowfall in portions of Alaska this past December. Fairbanks saw more than double its usual snowfall for the month of December.

Juneau, Alaska’s capital, located in far-southeast Alaska, has seen nearly its entire annual snowfall in December alone, at over 80 inches.

Snowfall promotes cold temperatures by reflecting light from the sun back to space. In Alaska, there is already very little sunlight during the winter due to its positioning on and near the Arctic Circle.

What little sunlight snow-covered portions of Alaska have seen has been quickly reflected back to space by the unusually heavy snowpack.

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In Central Alaska, located between the Alaska and Brooks ranges, the heavy snowpack, lack of sunlight, and lack of transport of air from warmer locations have led to the development of an arctic high pressure system, leading to stable conditions and light winds. These conditions cause the land to rapidly lose heat, becoming even colder. With this arctic high pressure is in place, central Alaska has remained cold. However, a slight breakdown in the strength of the high will allow temperatures to warm somewhat (see forecast for next 3 days below).

Fortunately, this pattern will break down as we approach mid-January. A more active storm track from the Pacific is poised to bring wetter and warmer conditions to portions of Alaska, especially towards the middle to second half of the month. While this wetter pattern means snow for most, temperatures will improve, being far more bearable than the current temperatures in the 40 to 50 degree below zero range.

Hayden Marshall is a meteorologist intern and First-Year-Master’s Student at the Georgia Institute of Technology. He has been following weather content over the past three years as a Storm Spotter and weather enthusiast. He can be found on Instagram and Linkedin.





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