💨 Abstract

The state of Maryland lost its "triple triple-A" bond rating that it had maintained for over three decades when Moody's downgraded its credit rating to Aa1. This downgrade means the state may now have to pay higher rates when selling bonds to fund public projects, ultimately costing taxpayers more in interest. The change follows warnings from Moody's over the past year due to structural deficits and economic risks.

Courtesy: wtop.com