Maryland's Triple A Bond Rating Affirmed

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

Treasurer Nancy Kopp made the announcement on Thursday. Maryland is one of only eight states to have a Triple A bond rating, which is significant because it means the state can borrow money for building projects at lower interest rates.

The treasurer noted that the state is scheduled to sell about $718 million of general obligation bonds on July 27.

The sale will include the direct retail sale of about $100 million of bonds with the first priority to Maryland residents.

The retail bond sale is scheduled to begin July 22 and likely end on July 25.

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