Maryland Completes $512.4M Bond Sale

By BRIAN WITTE
|  Wednesday, Jul 27, 2011  |  Updated 8:48 PM EDT
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Maryland Completes $512.4M Bond Sale

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Maryland has completed $512.4 million in the sale of general obligation bonds.

The sale, which was completed Wednesday, was described as a successful one by Treasurer Nancy Kopp. That's despite the economic uncertainty churning around the debt limit debate in Washington that poses a threat to the future of the state's AAA bond rating.

Virginia, South Carolina, Tennessee and New Mexico also were warned about their AAA status, if the nation's bond rating is downgraded.

The treasurer said the fact that investors stepped forward to buy the bonds is a strong sign of confidence in Maryland.

Kopp said the state has decided to put off $200 million in refinancing bonds, because interest rates are so unstable that the state couldn't make enough money from them now.

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