Maryland lost its AAA bond rating, which means higher borrowing costs and a hit to the state’s creditworthiness.

Maryland lost its triple-A bond rating from Moody's on Wednesday, a rating the state has cited for more than 50 years as a sign of strong fiscal stewardship. Moody’s downgraded the state’s credit rating to Aa1.

Maryland loses its Triple-A bond rating this week. Moody’s downgraded the state’s credit to AAone. They say it’s because of the states “downgrade by economic and financial under performance including the shift in federal policies along with layoffs.