BUSINESS

Maryland keeps AAA bond rating

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ANNAPOLIS, Md. (AP) - Maryland's treasurer says all three bond rating agencies have affirmed the state's triple-A bond rating.

Treasurer Nancy Kopp made the announcement on Thursday, as the ratings were made before an upcoming retail sale of general obligation bonds on Aug. 1.

The offering will include the direct retail sale of about $75 million of bonds with first priority to residents.

The retail bond sale begins July 27 and will likely end on July 30. The bond sale will conclude with four competitive bids for the remaining bonds, which are expected to be sold to institutions.

The sale will include about $430 million of tax-exempt bonds and $20 million of taxable bonds. It also will include about $15 million of qualified zone academy bonds and about $188 million of tax-exempt refunding bonds.

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