Maryland's Triple A Bond Rating Affirmed

ANNAPOLIS, Md. (AP) -- Three bond rating agencies have affirmed Maryland's Triple A bond rating.

Treasurer Nancy Kopp made the announcement Wednesday. She says the state will sell up to $485 million in general obligation bonds on March 9. The state uses the proceeds to finance capital projects such as schools and hospitals.

The rating is significant because it means the state can borrow money for building projects at lower interest rates.

Standard and Poor's, Moody's and Fitch Ratings all have affirmed the rating for Maryland.

Maryland is one of eight states to have the high bond rating.

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