Yesterday, Treasurer Nancy Kopp announced that Maryland had retained its AAA bond rating. Despite facing hardship due to the COVID-19 pandemic, the three rating agencies (Moody’s, S&P, and Fitch) all determined that Maryland’s strong reserves, budgetary and financial management practices, and penchant for addressing shortfalls made the AAA rating possible.

            The agencies also made abundantly clear that the federal government needs to step up in order to help state and local governments. While Maryland and Baltimore County have done well to secure their AAA ratings, I urge our federal leaders to help push local and state aid forward as we try to avoid a worst-case budget scenario.