Montgomery County’s credit rating has been placed on review for possible downgrade by rating agency Moody's.

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"Although this possible downgrade was expected after the financially strong State of Maryland was placed on similar notice, it nevertheless is disappointing to hear after how hard this County has worked financially to earn and protect its 'AAA' bond rating from all three ratings agencies,” County Executive Rushern L. Baker III said.

He said the many federal facilities in the county as well as the many employees who work for the federal government tie Montgomery County to the stability of the federal government.

Only on Monday had Baker celebrated the news that Montgomery County had retained its AAA rating from all three agencies.