Tag: Moody’s

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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Maryland struggles to avoid bond downgrading

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.

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Moody’s adds state pension liabilities to credit reports

Moody’s Investor Service is adding pension liabilities to the factors it reports publicly in rating total state debt, a new approach one expert called “very significant.” The new numbers showed that while Maryland was not among the top 10 states with the biggest long-term debt including pensions, it ranked between 13th and 17th among the states with the highest debt.

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