Tag: bond ratings

Maryland retains triple-A bond rating, but pension liabilities and federal cuts cloud future

The big three New York bond rating agencies last week again affirmed Maryland’s almost sacred triple-A bond rating, attributing the decades-old stamp of approval to a strong economy, high incomes, prudent fiscal management and a willingness to raise taxes. But as they have for recent bond issues, the three agencies said the state government continues to face financial challenges from its above-average pension liabilities and likely federal budget cuts, along with an increasingly sluggish economy.

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Federal debt crisis threatens state bond ratings

The federal debt crisis continues to threaten Maryland’s prized AAA bond rating, and “the state is likely to lose in almost any scenario,” Warren Deschenaux, the legislature’s chief fiscal analyst, told lawmakers Tuesday. If the federal debt cap is not increased, “I don’t see much in the way of a happy ending for the state,” Deschenaux told the Senate Budget and Taxation Committee.

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