Maine’s Bond Ratings Drop 

A major ratings service has downgraded Maine’s bond ratings.Fitch has lowered Maine’s $472 million in general obligation bonds from AA+ to AA.$1.4 billion of the Maine Municipal Bond Banks’s general resolution bonds have been lowered from AA- to A+.Fitch says the state’s persistent budget gaps are the reason for the downgrades.A lowered bond rating can mean having to pay higher interest rates.