Alabama

Jefferson County, Ala., has appealed a judge’s ruling that struck down a state law to allow the county to issue debt; a group of challengers has also pledged to appeal.

An Alabama court struck down a state law that would have allowed Jefferson County to return to the bond market.

Moody's Investors Service upgraded three of Jefferson County, Ala.’s credits three notches to investment grade citing improved financials and the expanding local economy.

An Alabama federal judge entered judgments approving settlements in the Securities and Exchange Commission’s cases against former JPMorgan bankers Douglas MacFaddin and Charles LeCroy, who were accused of wrongdoing in the Jefferson County, Ala. sewer financings.

Mobile, Ala., next week will file a protest and an appeal of the Internal Revenue Service’s proposed adverse determination that some general obligation refunding and improvement warrants it issued in 2006 are taxable.

Two former JPMorgan bankers have agreed not to violate securities laws and to repay money they made while working on transactions involving Jefferson County, Ala., Securities and Exchange Commission documents said Tuesday.

Jefferson County, Ala.,’s 2013 sewer system debt remains at junk levels even though the county’s post-bankruptcy plan is working as intended so far, Fitch said while affirming its double-B ratings.

The Internal Revenue Service’s tax-exempt bond office has told Mobile, Ala., that the general obligation refunding and improvement warrants it issued in 2006 are probably taxable.

An attorney for Jefferson County, Ala., has asked an appellate court to consider the analysis of a federal judge who dismissed the final appeal in Detroit’s bankruptcy case.

The Securities and Exchange Commission said Monday that it reached an undisclosed settlement with two ex-JPMorgan bankers involved in Jefferson County, Ala.’s sewer deals.

As Jefferson County, Ala., defends its bankruptcy plan, the county must also clear new legal hurdles in order to return to the bond market later this year.

The Alabama Legislature late Wednesday approved a state budget for the fiscal year that begins Oct. 1 after making structural changes aimed at stabilizing the general fund.

A group of Jefferson County, Ala., residents told an appellate court they were denied constitutional protections in the rush to end the county’s “large and complicated” Chapter 9 bankruptcy in 2013.

As the Alabama Legislature resumed work on the state budget due Oct. 1, Standard & Poor's warned that a structurally balanced plan is necessary to maintain the state’s AA general obligation bond rating.

The National Association of Bond Lawyers has updated its bankruptcy guide for members with new information drawn from the relatively high number of municipal bankruptcy filings in the last few years.

Issuers in the Southeast sold $41.56 billion of bonds in the first half of 2015, an 85% increase in year-over-year volume fueled by refundings and a slight uptick in new-money sales.

Alabama Gov. Robert Bentley told community and business leaders that state legislators have failed to act like leaders and resolve the state’s budget crisis.

The Alabama Legislature failed to reach agreement on a general fund budget for fiscal 2016, necessitating a second special session.

The Alabama Legislature and Gov. Robert Bentley remain far apart on an operating budget with less than a month to go before the new fiscal year begins.

Within hours of the Obama Administration's release of the final Clean Power Plan on Monday, opponents vowed to take legal action to block the rule while others hailed the measure.