ANNAPOLIS, Md. — Fitch Ratings has assigned a AAA credit rating to Maryland.

This keeps Maryland at a stable outlook, making it the strongest bond rating possible.

This rating reflects Maryland's "broad diverse and wealthy economy, strong and forward-looking fiscal management, and broad budgetary flexibility despite the challenges posed by increasing medium-term obligations," Fitch says.

Maryland leaders says this news affirms their work to preserve Maryland's fiscal strength.

This news comes after Moody's Ratings downgraded Maryland's credit ratings in several areas due to "economic and financial under performance compared to Aaa-rated states."

The downgraded rating shows an increase in risk for investors loaning money to the state.

Moody's did add that the outlook for the state has been revised to 'stable.'

The organization also said that while the state did address "a trend of overspending in various programs... the need for further corrective actions may arise directly from federal funding cuts or the economic consequences of federal layoffs and other policy shifts, to which Maryland has a very high degree of exposure."