Source: Orange County Register
“Maryland lost its triple-A bond rating from Moody’s on Wednesday, a rating the state has cited for more than 50 years as a sign of strong fiscal stewardship. Moody’s downgraded the state’s credit rating to Aa1. Maryland had received a triple-A bond rating from Moody’s since 1973. The state has benefitted from the higher rating by paying the lowest rates when it sells bonds to pay for infrastructure, likes roads and schools. ‘The downgrade was driven by economic and financial underperformance compared to Aaa-rated states, which is expected to continue given the state’s heightened vulnerability to shifting federal policies and employment, and its elevated fixed costs,’ Moody’s said. Gov. Wes Moore and other leading Maryland Democrats blamed President Donald Trump’s mass layoffs of federal workers, which is having a big impact on the region. The District of Columbia also recently received a credit-rating downgrade.” (05/14/25)