Maryland's AAA rating reaffirmed by Moody's

THE BALTIMORE SUN

ANNAPOLIS -- One down and two to go.

Moody's Investors Service, one of three New York bond rating agencies visited by Maryland officials Monday, reaffirmed the state's best-possible triple-A bond rating yesterday. The rating comes a week before the state is to borrow $120 million through the sale of general obligation bonds.

Moody's said in a statement that Maryland has made "responsible adjustments" in the state's budget and taxes.

The state expects to receive new bond ratings from Fitch's Investors Service and Standard and Poor's later this week.

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