The Maryland Department of Transportation expects to competitively sell $110 million of revenue transportation bonds on Wednesday.
The bonds are rated AAA by Standard & Poor’s, AA by Fitch Ratings, and Aa2 by Moody’s Investors Service. They will be backed by income, fuel, and title taxes, and other revenue if taxes prove insufficient. The bonds are not backed by the faith and credit of Maryland. Maturities range from three to 15 years.