Alabama

Fitch cited improved long-term liability metrics.

Dan Hartman of PFM attributed the drop to fewer prepaid gas deals, one-time large transactions last year like Jefferson County's and normal timing variations.

The rating agency cited stong debt service coverage and modest leverage.

The county commission said it hopes to regain Moody's ratings this fall.

Moody's based this downgrade on the lowering of the rating of the United States government.

A mix of pay-as-you-go, bond proceeds and federal grants bolster the infrastructure of Mobile, Alabama, which is getting a new arena, air terminal and bridge.

A new law increasing the bond authorization responds to federal pressures and increased anticipated prison construction costs.

Only Georgia has a higher state-level infrastructure grade from the ASCE than the the C the U.S. received this week. More in the Southeast are C-minus or lower.

The bonds, which are expected to sell soon, are rated A1 by Moody's Ratings.

The series 2025B Black Belt Energy Gas District bonds are rated Baa1 by Moody's Ratings based on Deutsche Bank's key role in the transaction.