Maryland Retains AAA Bond Rating, To Sell $922 Million Of General Obligation

Go Figure! This is what happens when you raise gas taxes, tolls, registration fees, gay marriage licences, flush taxes, SHALL I GO ON?

ANNAPOLIS (February 22, 2012) – Maryland State Treasurer Nancy K. Kopp announced today that all three bond rating agencies have affirmed the State's strong Triple AAA bond rating in preparation for the upcoming retail sale of General Obligation Bonds and the competitive institutional sale on Wednesday, March 7, 2012 at the Board of Public Works meeting.

This offering will include the direct retail sale of approximately $150 million of bonds with first priority to Maryland citizens, similar to successful transactions in 2009, 2010, and 2011. “Marylanders get first preference in buying highly desirable, conservative quality bonds while investing in their State - a win-win situation,” Treasurer Kopp said.

The retail bond sale begins March 2nd and likely will end on March 5th. For more information, potential buyers should check www.buymarylandbonds.com.

The bond sale will conclude with two competitive bids for the remaining bonds, which are expected to be sold to institutions. The sale will include approximately $450 million of tax-exempt bonds and approximately $322 million of tax-exempt refunding bonds.

As has always been the case with the issuance of Maryland‟s General Obligation Bonds, the State uses the proceeds to finance necessary capital projects, such as schools, community colleges, university projects and hospitals.