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Mass. Pike Delays Meeting Amid Debt Struggles

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Oct 25, 2008 12:08 pm US/Eastern

Mass. Pike Delays Meeting Amid Debt Struggles

BOSTON (AP) ― The Massachusetts Turnpike Authority has postponed its monthly meeting as it struggles with debt.

Pike officials said the postponement of the Tuesday's meeting until Nov. 14 gives state officials more time to complete legislation that would abolish the agency. Information about such a move could then be presented to the board.

But board member Mary Connaughton said the delay could hurt the agency's bond rating because it would postpone talks over ways to help the agency, such as increasing tolls.

Connaughton told The Boston Globe that could lead to even bigger toll increases.

Pike officials have signaled toll hikes are inevitable as the agency deals with $2.5 billion in debt, most of it related to the Big Dig.

A spokesman for Turnpike Authority chair Bernard Cohen said the postponement won't hurt the agency's credit ratings.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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