Prince George's County credit is downgraded amid federal spending cuts
The bond rating agency Moody's downgraded Prince George's County's credit this week, citing the Maryland county's sensitivity to federal spending cuts and its long-standing budget problems amid rising debt and interest rates in the country.
The county's lower rating, from triple-A to Aa1, comes on the heels of Maryland's state government receiving its own credit downgrade last week after maintaining a triple-A bond rating for more than 52 years. The agency also lowered the District's bond rating to Aa1 and revised its outlook to negative in April, similarly citing Trump administration spending cuts as well as weaknesses in the commercial real estate market.
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