Baltimore, MD - April 25, 2025 - As Maryland grapples with financial challenges and unpredictable federal cuts, top political leaders are bracing for rating agencies to potentially lower the state’s top-tier bond rating.

A downgraded rating could mean higher borrowing costs and a hit to Maryland’s creditworthiness at a time when state lawmakers recently closed a multibillion-dollar budget deficit.

Democrats are quick to blame President Donald Trump’s federal overhaul for the state’s dismal financial outlook, while Republicans blame Democrats, who hold a supermajority in Maryland, for fiscal mismanagement.

Typically, ratings are downgraded when income versus expenditures tip out of balance and it appears deficits could persist in the future, according to Yuval Bar-Or, a finance professor at the Johns Hopkins Carey Business School. Bar-Or has worked directly or indirectly with each of the three major rating agencies in the past.... Read More: FOX45