MDOT gets first credit ratings upgrade in 15 years, though with negative outlook

The Maryland Department of Transportation has received its first credit rating upgrade in nearly 15 years, which Secretary Paul Wiedefeld said will lower borrowing costs and save taxpayers money. The department, though, also received a negative outlook to match the state’s forecast, indicating that its credit rating may be downgraded in the near future. Maryland’s general operating budget, similar to its transportation plan, is facing projections of a multibillion deficit in the coming years.