ANCHORAGE, Alaska, Dec. 19 /PRNewswire/ --

Standard & Poor's rating agency has affirmed the bond ratings for $735 million in outstanding debt for the Alaska Housing Finance Corporation (AHFC). The ratings range from AA- to AAA for long-term bonds and A-1+ for short-term obligations, with an outlook of Stable.

In a news release, S&P stated that the rationale for the ratings reflect the following strengths:

-- "A large and liquid asset base,

-- Strong, but declining profitability indicators,

-- Capable management, and

-- The ability to meet its legislative mandate.

Factors limiting the rating include:

-- Continued legislative appropriation of ...