Borough's outstanding bond ratings upgraded

MAT-SU— The Matanuska-Susitna Borough's bond rating was upgraded to AA by FitchRatings today, reflecting the Borough's strong financial performance during a global economic downturn. "The Borough benefits from sound fiscal policies, ample reserves, and low debt levels..." according to a news release from FitchRatings. Tammy Clayton is the Finance Director at the Borough. Elizabeth Gray is the Acting Borough Manager.

Fitch upgraded the Borough's general obligation bonds to AA from AA-, a high grade for a credit rating. "The continuing growth is manageable and the borough is focused on proactive capital improvement planning and commercial diversification in targeted industries to promote both tax revenue and employment growth," the Fitch release states.

The Borough was instrumental in a new state prison being built at Point MacKenzie. Now, more than 70 percent complete, the $240 million Goose Creek Correctional Center will add 350 Corrections jobs to the economy and has already created hundreds of local construction jobs. The project returns millions in Alaska dollars that have been circulating in other states where Alaska inmates are housed, and of course brings inmates closer to their families.

Substantial work took place at Port MacKenzie this summer, as well, during the $5 million barge dock expansion and the construction of a haul road for bulk materials and beginning of a rail loop. At least 70 new construction jobs were created as heavy equipment operators worked round the clock punching a new haul road through to Lu Young Lane, the beginnings of a rail embankment and rail loop, and expanding the barge dock to 16 acres. The MAT-SU Borough continues to be the fastest growing community in Alaska.

Key rating drivers, the release states, were maintenance of strong financial results during the economic downturn, and maintenance of low debt burden. Read the FitchRatings press release here.

For more information call Finance Director Tammy Clayton at 907.745-9629 or This email address is being protected from spambots. You need JavaScript enabled to view it.