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Maryland completes $512.4M bond sale

ANNAPOLIS — Maryland has completed $512.4 million in the sale of general obligation bonds.

The sale, which was completed Wednesday, was described as a successful one by Treasurer Nancy Kopp. That’s despite the economic uncertainty churning around the debt limit debate in Washington that poses a threat to the future of the state’s triple-A bond rating.

Virginia, South Carolina, Tennessee and South Carolina also were warned about their triple-A status, if the nation’s bond rating is downgraded.

The treasurer says the fact that investors stepped forward to buy the bonds is a strong sign of confidence in Maryland.

Kopp says the state has decided to put off $200 million in refinancing bonds, because interest rates are so unstable that the state couldn’t make enough money from them now.

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