Boston Transit Operator to Borrow $939 Million as Deficit Looms
Commuters wait on a the platform of the Massachusetts Bay Transportation Authority's Park Street Station in Boston in 2022.
Photographer: Vanessa Leroy/BloombergThe agency that runs the cash-strapped Boston subway system known as the T is borrowing to help fund transit upgrades.
The Massachusetts Bay Transportation Authority plans to sell about $939 million in municipal bonds, according to preliminary bond documents. It is the latest US transit operator to shore up funds as Covid-19 aid from the federal government evaporates and ridership levels struggle to return to pre-pandemic levels.