Auction-rate woes may raise Mass. highway tolls

02/25/2008 | Bloomberg

The Massachusetts Turnpike Authority may have to raise tolls after it was forced to delay refinancing $126.7 million related to problems in the auction-rate market. The securities were backed by a unit of troubled Ambac Financial Group. "That is a very significant financial obligation, probably our biggest short-term problem," said Alan LeBovidge, the turnpike authority's executive director.

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