City of Williston gets its credit rating downgraded

Oil extracted from wells ringing Williston, North Dakota, helped push the state’s surplus to a record $1.6 billion and generate the nation’s lowest jobless rate. Drilling also left the city broke.

While the U.S. Census counts about 16,000 residents, Williston says it provides services to more than 38,000, including workers living in temporary camps, hotels, and even vehicles. Keeping up with the load is spurring budget gaps that will deplete rainy-day funds, according to Standard & Poor’s, which cut city debt to BBB+ in December, three steps above junk.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

Related posts

Top