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Maryland retains Triple A bond rating

Maryland retains Triple A bond rating

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Maryland has retained its prized from the three major rating agencies, state said.

State officials plan to sell up to $1 billion worth of general obligation bonds at the March 6 meeting of the Board of Public Works — $500 million of tax-exempt bonds and up to $500 million of tax-exempt refunding bonds.

Bond proceeds will fund capital projects such as schools and hospitals.

The AAA rating means can borrow at the lowest available interest rate.

Only nine states hold the AAA rating from rating agencies Fitch, Moody’s Investors and Standard & Poor’s.