Maryland Maintains AAA Bond Rating
Despite ongoing fiscal challenges, Maryland has retained its AAA bond rating in advance of a $415 million bond sale next week, State Treasurer Nancy K. Kopp announced yesterday.
Maryland is one of only seven states with a AAA rating from all three major rating agencies, which allows the state to borrow money for construction projects at relatively favorable interest rates.
In a statement, Gov. Martin O'Malley (D) said the bond rating is "an affirmation of Maryland's sound financial operations, diverse economy and smart fiscal policy."
In an appearance this week before a legislative committee, Kopp said that going forward bond rating agencies are interested in how a November ballot measure on slot-machine gambling affects the state's finances and how the state copes with sluggish tax collections
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