The Associated Press July 14, 2010, 2:35PM ET

Rating agencies affirm Maryland bond rating

Maryland's triple-A bond rating has been affirmed by three major bond rating agencies.

Treasurer Nancy Kopp announced the latest affirmation on Wednesday.

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 only eight states to have the high bond rating.

Kopp says Maryland has an upcoming bond sale of about $490 million on July 28.

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