MassPike's Suspect Swaps

McDonald, Michael
December 2002
Bond Buyer;12/30/2002, Vol. 342 Issue 31542, p1
Trade Publication
Reports that the Massachusetts Turnpike Authority, Massachusetts, has turned to the sale of options in the municipal derivatives market for short term relief thus allowing investment banks to do interest rate swaps on the authority's debt. Details of two such deals carried out by the authority; Implications of using interest rate swaps as a financial solution; Ratings assigned to the authority's bonds by rating agencies.


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