Moody’s Downgrades New Jersey’s Bond Rating

TRENTON, N.J. -

For the third time since April, a bond rating agency has downgraded New Jersey’s bonds, The Associated Press reported. Moody’s is now rating the state’s debt at A1 rather than Aa3, meaning it considers the state a low risk of defaulting rather than a very low risk. The move follows downgrades by Fitch and Standard & Poor’s in April.