A major credit agency has lowered Vermont's high bond rating, citing slow economic growth and an aging population.
Moody's Investors Service announced this week it is lowering the state's rating from the top-level AAA to the second-highest Aa1.
While Moody's praised the state economy's underlying health and management, it says its slow growth may lead to growing cost pressures.
Vermont has held the AAA bond rating since February 2007, and it still has the highest bond rating compared to other New England states.
Lower bond ratings affect the state's cost of borrowing.
Gov. Phil Scott says the state "didn't get into this situation overnight."
He says it is essential lawmakers work on a bipartisan basis to change "the economic trajectory of our state."
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