WASHINGTON — Triple-A rated Montgomery County, Md., the state’s most populous county, on Monday was put on review for a possible downgrade by Moody’s Investors Service, affecting $1.8 billion of outstanding debt.

The placement on Moody’s watch list stems from falling income tax revenues and the likelihood that the county will use “a significant portion” of its general fund and revenue stabilization fund revenues to plug its fiscal 2010 gap, Moody’s analysts said in a credit report.

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