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MassPike's Rating Lowered; Concern About Ability to Pay Big Dig Costs

BOSTON-The Massachusetts Turnpike Authority's recent decision to delay toll hikes causes Moody's Investors Services to revise its outlook for the agency from stable to negative. The Wall Street firm is concerned over MassPike's ability to pay for its share of the Big Dig costs.

By Naomi Grossman | Updated on November 16, 2001

BOSTON-The Massachusetts Turnpike Authority’s recent decision to delay toll hikes on the eastern section of the Massachusetts Turnpike till next July has more implications than reduced revenues: Moody’s Investor Services revised its outlook for the agency from stable to negative.

The toll increase–from 50 cents to $1 on the Turnpike Extension and from $2 to $3 at the Boston Harbor tunnel tolls–was suggested to help the agency pay for its $1.5 billion share of the $14.475 billion Big Dig project, the massive highway reconstruction project going on in the heart of Boston.

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