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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

By Phyllis Jordan  |  July 11, 2008; 2:38 PM ET
Categories:  John Wagner  
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Comments

What, no parade?

Posted by: Upper Marlboro Man | July 11, 2008 5:45 PM | Report abuse

Wall streeters have been touting Citigroup, Fannie Mae, etc too. They can learn more from Marylanders than we can learn from them. Try Pay as You Go.

Posted by: Robin Ficker Broker Robin Realty | July 12, 2008 10:02 PM | Report abuse

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