Maryland Maintains AAA Bond Rating

State Treasurer Nancy K. Kopp recently announced that Maryland has maintained its AAA bond rating from all three rating agencies. As reported by MarylandReporter.com,

Maryland is one 11 states with the highest bond rating. It has held the top rating from Standard & Poor’s for 54 years, from Moody’s for 42 years and from Fitch for 23.

There was nothing unusual in the reports. All three cite Maryland’s prudent fiscal management, its flexibility in reacting to revenue downturns, its forecasting process, its limit on debt and the short 15-year term of its bond. Fitch and Standard & Poor’s call Maryland’s $12 billion in tax-supported debt moderate, while Moody’s calls it “high” among the states. But the raters have been making similar judgments for years.

All three note Maryland’s wealth, high incomes and highly educated populace.

The State is preparing for a bond sale to be held next week.

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