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Analysts: Port of Baltimore standing still
Economists cite lack of infrastructure in highly competitive market.
Report: Md. economy reliant on federal jobs, lacks private-sector growth
ODENTON — Maryland’s economy has become increasingly dependent on federal jobs and has failed to grow the private sector or increase venture capital funding, according to a report by Moody’s Analytics. The report, which was presented Friday afternoon to the Maryland Economic Development and Business Climate Commission, notes this reliance has allowed the state to […]
‘Eds and meds’ strengthen Baltimore’s credit
Baltimore was singled out by Moody's as a primary example of how universities and hospitals can contribute to a city's economic vitality.
Moody’s downgrades Howard U’s credit rating
WASHINGTON — Moody’s Investors Service has downgraded Howard University’s credit rating, citing revenue declines at the historically black college and automatic federal budget cuts from Congress. Moody’s issued its downgrade Tuesday after a review that began in July. Howard’s rating was reduced from A3 to Baa1, indicating a moderate credit risk. Moody’s says fundrai[...]
Moody’s: Established gambling markets faltering
LAS VEGAS — Established gambling towns like Las Vegas and Atlantic City are hurting as more states start welcoming bettors’ dollars, Moody’s Investors Service warned last week. The credit rating agency issued a report describing a shift in casino tax revenues away from New Jersey, Indiana and Nevada to new markets in places like Pennsylvania, […]
Moody’s: Outlook for higher ed sector now negative
Moody’s Investors Service on Wednesday downgraded its outlook for the higher education sector to negative across the board, saying even prestigious, top-tier research universities are now under threat from declining enrollment, government spending cuts and even growing public doubts over the value of a college degree. Previously, its outlook had been stable for those better-positioned [&hell[...]
Moody’s set to downgrade U.S. without budget deal
NEW YORK — The U.S. government’s debt rating could be heading for the “fiscal cliff” along with the federal budget. Moody’s Investors Service on Tuesday said it would likely cut its “Aaa” rating on U.S. government debt, probably by one notch, if budget negotiations fail. If Congress and the White House don’t reach a budget […]
A year later, S&P downgrade of U.S. looks like a dud
WASHINGTON — The rating agency Standard & Poor’s stunned the world a year ago by stripping the U.S. government of its prized AAA bond rating. The downgrade of long-term U.S. Treasurys threatened to sow chaos in financial markets, driving up U.S. interest rates, pushing the dollar down, scaring investors away from stocks and into that […]
Moody’s may downgrade Penn State’s credit
NEW YORK — Moody’s Investors Service said Monday it may cut its rating on Penn State’s credit as the university deals with the fallout from the Jerry Sandusky child sexual-abuse case and sanctions against the school’s football team. The agency has an ‘Aa1’ rating on Pennsylvania State University’s credit. That is its second-highest possible rating. […]
Morgan Stanley closes a bleak bank earnings season
NEW YORK — It’s tough being a big bank these days. Morgan Stanley, the storied investment house, reported Thursday that its revenue was down sharply for April through June and its profit missed Wall Street expectations. Its stock was clobbered — down more than 5 percent. The report capped a dismal season for the banking […]
Treasurer talks to O’Malley about Moody’s report
ANNAPOLIS — Maryland’s treasurer briefed Gov. Martin O’Malley on Wednesday about a credit rating agency’s concern over the state’s unresolved budget situation, telling the governor that Moody’s Investor Services wants to be kept informed about developments. Maryland Treasurer Nancy Kopp, who briefed O’Malley before a meeting of the state’s Board of Publi[...]
Fitch keeps AAA US credit rating but dims outlook
WASHINGTON — Fitch says it will keep its rating for long-term U.S. debt at the top AAA level, despite a congressional panel’s failure to agree on long-term deficit cuts. But it is lowering its outlook to negative. The rating agency says it has less confidence in the federal government’s ability to take the necessary steps […]
