Five States on Review by Moody’s on Possible U.S. Rating Cut

Maryland, New Mexico and three other U.S. states had their Aaa debt ratings placed on review for possible downgrade by Moody’s Investors Service, which cited its review of the Aaa U.S. government bond rating.

South Carolina, Tennessee, and Virginia are also being reviewed by Moody’s, which said downgrades would be likely should the U.S. rating be cut to Aa1 or lower. The review covers $24 billion of general obligations and related debt.