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Bond rating agencies affirm Md.’s triple-A rating

ANNAPOLIS — Maryland’s treasurer says all three bond rating agencies have affirmed the state’s triple-A bond rating.

Treasurer Nancy Kopp made the announcement on Thursday, as the ratings were made before an upcoming retail sale of general obligation bonds on Aug. 1.

The offering will include the direct retail sale of about $75 million of bonds with first priority to residents.

The retail bond sale begins July 27 and will likely end on July 30.

The bond sale will conclude with four competitive bids for the remaining bonds, which are expected to be sold to institutions.

The sale will include about $430 million of tax-exempt bonds and $20 million of taxable bonds. It also will include about $15 million of qualified zone academy bonds and about $188 million of tax-exempt refunding bonds.

One comment

  1. Maryland should enjoy the current AAA credit rating because it won’t last much longer. As we approach our debt limit in 2016 or 2017, and our unfunded State employee pension and healthcare obligations continue to grow, we will lose this good financial management talisman. A decade of poor management and policy decisions, in combination with an orgy of spending will bring our State’s chickens home to roost. hivails was