December 1, 2010
State's Bridge Repair Bonds Earn Triple-A Ratings
By Matthew L. Brown
The state's Accelerated Bridge Program bonds have been assigned triple-A ratings by both Moody's and Standard & Poor's.
Gov. Deval Patrick's office estimates that the ratings will save the state about $60 million in interest costs and allow the state to continue to fix old bridges at lower cost to taxpayers.
The $3 billion accelerated bridge program is part of the state's Transportation Reform Act and is tasked with repairing hundreds of "structurally deficient" bridges.
So far, the program has fixed about 9 percent of the deficient bridges and 62 more are scheduled for construction in 2011.
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