Statement from Governor Martin O'Malley on Retention of State's AAA Bond Rating
ANNAPOLIS, MD (October 14, 2009) –Governor Martin O’Malley today issued the following statement regarding the retention of Maryland’s AAA bond rating by all three bond rating agencies:
“Today’s AAA bond rating is – once again – an affirmation of Maryland’s smart fiscal policies in the midst of the worst national recession since the Great Depression. By returning an era of fiscal responsibility to our State, we have demonstrated that sound financial management is possible even in tough economic times. This highest possible bond rating not only demonstrates Maryland’s fiscal strength as one of only seven states to maintain the highly coveted designation, it also saves taxpayers money.
“I want to thank Treasurer Kopp and Comptroller Franchot for their leadership and sound management of our State’s finances. We have worked hard to make our state government more accountable and transparent While Maryland is not immune to the effects for this national recession, together we have made the difficult decisions to protect our State’s long-term financial health, invest in our future, and protect our most valuable asset – the skills and strength of our people."
