All three bond rating agencies have affirmed Maryland’s AAA credit rating, state Treasurer Nancy Kopp announced Thursday.
Though the analyses by Moody’s, Standard and Poor’s, and Fitch describe Maryland’s recovery from the recession as slow and “halting” — noting in particular the downturn at the beginning of 2011 that eroded any job gains the state had made — they point to the state’s budget-cutting and other fiscal management practices among the reasons for the strong rating.
Maryland is one of eight states to hold the AAA rating from all three agencies.
