Turnpike Apocalypse? $400 Million Payment Looms for Pike

The Boston Herald reports that the Massachusetts Turnpike Authority’s insurer, Ambac Financial Group, just had its credit downgraded, which might spell trouble for the Pike. Early this year, UBS, a Swiss financial company, demanded a $400 million payment from the Pike, “but eventually backed off because the credit

rating of the Pike’s insurer.” The lower rating might mean a renewed demand for the payment and an immediate financial crisis at the Turnpike, which just delayed a vote on a toll hike. [ Herald ]

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Turnpike Apocalypse? $400 Million Payment Looms for Pike