Bankrupt Jefferson County, Ala., reached a settlement with Depfa Bank to reduce the interest rate on $162.5 million of variable-rate school warrants. The concession doesn't bode well for other secured creditors, says MMA's Matt Fabian.
JeffCo and Depfa Reach Deal on Defaulted School Warrants
FEB 19, 2013 4:05pm ET
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Land isn't the only thing drying up in California, as the drought's economic impacts are dangerously closing in on the state's financial resources.
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