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Md. treasurer says S&P credit rating unchanged

Tuesday - 8/9/2011, 5:03pm  ET

ANNAPOLIS, Md. - Maryland's treasurer says Standard & Poor's Ratings Services isn't downgrading the state's triple-A credit rating.

The treasurer's office said Tuesday that an analyst at the rating agency has said it is not taking action on Maryland's top rating. That's after the rating agency downgraded the federal government's rating to AA-plus late last week.

Treasurer Nancy Kopp noted that there was very strong investor demand for Maryland's general obligation bonds in a bond sale late last month. She says the true interest cost on the bond sale was among the lowest since 1988.

Gov. Martin O'Malley tells MSNBC that rating will enable the state to better invest in roads, create jobs building new schools and make investments in infrastructure that a triple-A bond rating is designed to support.

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