US Edition
8 things to know: State loses top credit rating after 52 years
- Maryland lost its triple-A credit rating from Moody's on Wednesday after holding it since 1973 in Annapolis, Md.
- Moody's cited the downgrade to Aa1 was caused by the state's economic and financial underperformance and vulnerability to shifting federal policies.
- After a difficult legislative session, the state addressed a $3.3 billion shortfall for the upcoming fiscal year by implementing tax hikes, reducing expenditures, and reallocating funds.
- Gov. Wes Moore and other Maryland Democrats blamed federal mass layoffs over the last 100 days, calling it "a Trump downgrade," while Republicans blamed state spending.
- Though downgraded, Maryland retains one of the nation's highest ratings and pledged to continue paying its debts despite exposure to federal funding risks.
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Associated Press News+36 Reposted by 36 other sources
Maryland loses triple-A bond rating from Moody's rating agency
Maryland has lost its triple-A bond rating from Moody’s. Maryland has held this top rating since 1973, and state officials have long cited it as a sign of state’s strong fiscal stewardship.
·United States
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Total News Sources52
Leaning Left10Leaning Right7Center26Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 23%
C 60%
R 16%
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