Despite the state’s efforts to remain fiscally sound, Maryland is struggling to avoid the downgrading of its cherished top triple A bond rating due to possible federal budget cuts, State Treasurer Nancy Kopp told the House Appropriations Committee Friday.
Read MoreThe three national rating agencies have renewed their AAA rating for Maryland’s upcoming $718 million bond issue, but all three continue to be concerned about the state’s pension funding and dependence on federal government spending. These factors were outweighed by the state’s strong economy, its high income and sound fiscal management. The analysts acknowledged the improvements made by the pension changes made earlier this year.
Read MoreIf the dispute between the White House and Congress over lifting the U.S. debt ceiling is not resolved soon, the state may put off its scheduled bond sale for upwards of $500 million set for July 27, the state treasurer’s office told a legislative committee Tuesday. “If they don’t have the debt ceiling issue resolved, the markets will be chaotic, and we will probably postpone the sale,” said Patti Konrad, manager of state debt.
Read MoreMaryland’s top officials often tout Maryland as one of only seven states that have a AAA bond rating. Which are the other six? Two of them are our neighbors, Delaware and Virginia. Rankings by Moody’s Investor’s Services say...
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