Maryland Drops Moody's for New Ratings

Maryland just dumped Moody’s as its bond rating agency — a bold move after Moody’s downgraded the state from AAA just a year ago. Now, Maryland’s selling $800 million in bonds backed by ratings from Fitch, S&P, and newcomer Kroll, which stepped in for Moody’s. State Treasurer Dereck Davis downplays the shift, insisting Maryland still holds AAA ratings from two major agencies and calling the Moody’s relationship “toxic.” Critics question if the state is cherry-picking favorable ratings, while others see the move as strategic — especially since Kroll charges far less than Moody’s. Despite S&P echoing Moody’s past concerns about long-term fiscal outlook, Maryland’s betting investors will focus on its strong financial track record and past success selling bonds even after downgrades. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/a9eb26c666c9ef17