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JeffCo and Depfa Reach Deal on Defaulted School Warrants

FEB 19, 2013 4:05pm ET

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.

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