A Boston hotel project failed to make an interest payment of $297,600 on March 1 to bondholders of Series 2002 Crosstown Center Project subordinate revenue bonds.

The Boston Industrial Development Finance Authority privately placed $35.6 million of tax-exempt senior revenue bonds and $7.7 million of tax-exempt subordinate bonds in 2002. They are uninsured term bonds that mature Sept. 1, 2035. BIDFA is a conduit issuer of the bonds.

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