Standard & Poor’s Ratings Services will not downgrade Maryland’s top AAA credit rating, according to the state’s treasurer.
An analyst at Standard & Poor’s told the treasurer’s office that the agency won’t take any action regarding Maryland’s credit rating, according to Treasurer Nancy Kopp.
Maryland’s top rating has been in doubt since the rating agency downgraded the federal government’s rating to AA-plus Friday night.
Moody’s Investors Service had warned that it may lower the credit rating on five states heavily dependent on the federal government, including Maryland and Virginia, if it downgrades the U.S. government’s rating.
Kopp said that there was still strong demand from investors for Maryland’s general obligation bonds in July sales, according to the Associated Press.
