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Maryland retains Triple A bond rating

Maryland has retained its prized Triple A bond rating from the three major rating agencies, state Treasurer Nancy K. Kopp said.

State officials plan to sell up to $1 billion worth of general obligation bonds at the March 6 meeting of the Board of Public Works — $500 million of tax-exempt bonds and up to $500 million of tax-exempt refunding bonds.

Bond proceeds will fund capital projects such as schools and hospitals.

The AAA rating means Maryland can borrow at the lowest available interest rate.

Only nine states hold the AAA rating from rating agencies Fitch, Moody’s Investors and Standard & Poor’s.