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Moody’s Downgrades Prince George’s Amid Budget Crisis

5/25/2025

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Summary

Story summary

Moody’s downgraded Prince George’s County from AAA to Aa1 due to budget concerns and federal cuts.
Fitch Ratings and S&P Global upheld their AAA ratings for the county.
The county is grappling with a $171 million budget deficit and asset losses.
Maryland's credit rating dropped to Aa1 amid a projected $1.9 billion deficit.
Governor Wes Moore proposed job creation initiatives, but critics question their effectiveness in resolving fiscal challenges.

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Story summary

Moody’s downgraded Prince George’s County from AAA to Aa1 due to budget concerns and federal cuts.
Fitch Ratings and S&P Global upheld their AAA ratings for the county.
The county is grappling with a $171 million budget deficit and asset losses.
Maryland's credit rating dropped to Aa1 amid a projected $1.9 billion deficit.
Governor Wes Moore proposed job creation initiatives, but critics question their effectiveness in resolving fiscal challenges.