finance
Mass Pike gets $4.3m "refund" from UBS in AG settlement of auction rate securities case
Posted Fri, 2008-05-09 18:10
Massachusetts Turnpike Authority is getting $4.3m as part of a $37m settlement between international banker UBS and the state attorney-general Martha Coakley over auction-rate securitiies. Most of the money will go to about 20 towns and cities.
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Fitch raters remain positive about Pennsylvania Turnpike despite big new Act 44 obligations
Posted Wed, 2007-09-12 18:07The Fitch bond rating company thinks that Pennsylvania Turnpike Commission (PTC) $1.7b of bonds (presently AA- with Stable Outlook) presently is likely to remain a strong investment despite the large extra borrowing and
annual payments it is undertaking to the state DOT in return for a 50 year toll lease of I-80. The raters say that the Pike's new debt will be acquired gradually giving the opportunity to monitor its strength.
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Massachusetts' mismanagement of turnpike detailed
Posted Sun, 2007-04-01 10:28Plans to end tolls on the Massachusetts Turnpike are excoriated in a lengthy report of a transport finance commission (MTFC) set up by the state legislature. Sub-titled "An unsustainable system" the report says the Romney administration and its predecessors have left a shocking financial legacy of high cost but skimped maintenance even while going deeper into debt to cover current costs - a tale of the Big Dig writ large in widespread mismanagement of the state's highways. 1837 words read more »
