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Massachusetts

Mass. transit overseers vote to unwind costly swaps

BOSTON – State transportation system overseers are moving ahead on unwinding a series of swaps, sophisticated financial bets on the direction of interest rates, that have kept part of the state's transportation-related debt payments locked in at higher rates. Terminating the interest-rate swaps with UBS and Deutsche Bank is

debt

Puerto Rico will default on $37 million in payments owed to creditors

SAN JUAN, Puerto Rico (AP) — Puerto Rico will default on $37 million in payments due to creditors Friday, while it will make $594 million in other payments owed next week, the U.S. commonwealth's governor said Wednesday. Gov. Alejandro Garcia Padilla said that the payments to be made

Massachusetts

Green Line project may need more bond money, Pollack says

BOSTON – Pressing ahead with the Green Line Extension project may require fresh bonding authority from the state Legislature next year to help cover the costs, Transportation Secretary Stephanie Pollack told lawmakers Wednesday. "As I've said repeatedly the option of halting the project remains on the table until