global rat warn thursday credit rat key alaska bond could go lawmakers fail agree budget address state long term-fiscal problems alaska governor bill walker convene special session legislature late last month aim pass budget fiscal 2017 close state nearly billion deficit drive collapse global oil price thursday put state aa-plus general obligation aa appropriation a-plus moral obligation rat alaska debt creditwatch negative implications bond proceed expect pay several transportation-related project creditwatch placement indicate may low alaska credit rat state policymakers defer adopt fiscal reform correct state structural budget deficit say gabriel petek global rat credit analyst since special session begin late last month legislature pass 4.4 billion spend plan fiscal 2017 bill reduce cost state oil gas tax credit program say unclear hotly contest bill would transfer money state permanent fund general fund overcome opposition state house representatives bill sb 128 would reduce amount pay residents annually fund even pass say remain see whether sb 128 fiscal reform would sufficient put alaska fiscal structure sustainable trajectory enactment sb 128 alone would shrink deficit eliminate order fully close structural fiscal gap measure new income tax spend cut would also necessary say despite budget deficit say alaska continue strong credit quality due large reserve build time oil price high ratchet pressure alaska budget