State Treasurer Nancy K. Kopp announced Thursday that Maryland has maintained its top bond rating.
The announcement of the AAA rating comes ahead of a June 8 general obligation bond sale, the only one for 2016. Maryland is one of just nine states (including neighboring Delaware and Virginia) to claim a AAA rating from S&P Global Ratings, Moody’s Investors and Fitch Ratings. The state has held that across-the-board status since 1993.
“Today’s announcement of Maryland’s retention of its AAA rating from the three major bond rating firms is an affirmation of our state’s continuing overall fiscal strength and longstanding commitment to prudent and proactive financial management,” Kopp said in a statement. “We are pleased the rating agencies recognize the contribution of our diverse economy, well-educated workforce, and above-average wealth and income levels to the overall quality of an investment in Maryland.”
