The credit rating for Maryland, once stable, has now been marked as negative by S&P as of May 30, 2026, at 5:45 a.m. EDT. Following last year’s credit downgrade by Moody’s, the state has decided to end its lengthy association with the firm. Maryland officials have stated their confidence that this change will not impact the upcoming $800 million bond sale set for next Wednesday. Despite their assurances, dismissing a rating agency after a downgrade can often appear as disapproval of their judgment.
Maryland’s Treasurer Dereck Davis, along with Governor Wes Moore and Comptroller Brooke Lierman, have been prominent figures amid these developments. They maintain that the state’s financial strategies remain robust. This stance reflects an effort to project stability and trust in the state’s economic management even after the shift in their credit evaluation partner.