Alabama

Bankrupt Jefferson County, Ala., sold $1.8 billion of new sewer warrants following a three-day pricing, County Commission President David Carrington said Tuesday night.

There is no legal basis for the judge overseeing Jefferson County, Ala.'s bankruptcy case to reject the opinions of expert witness James White, argue opponents of the county's plan to exit Chapter 9.

As Jefferson County, Ala., began to sell sewer warrants on Friday, analysts said they remained concerned about the rate increases needed to repay the debt.

The triple-B ratings assigned to Jefferson County, Ala.'s $1.7 billion sewer warrant deal should be considered "borderline non-investment grade," Standard & Poor's said.

Bankrupt Jefferson County, Ala.'s former financial advisor James White revealed "privileged" information and violated his fiduciary duties, attorneys for the county claim.

Bankrupt Jefferson County, Ala.'s $1.7 billion of new sewer warrants should be rated in the speculative grade B category, Moody's Investors Service said in a special comment.

Fitch assigned preliminary non-investment grade ratings to bankrupt Jefferson County, Ala.'s upcoming $1.7 billion sewer warrant sale.

Fitch expects to assign a BBB-minus rating to bankrupt Jefferson County, Ala.'s upcoming sale of $105 million in GO warrants.

Jefferson County, Ala.'s bankruptcy plan will eliminate dozens of suits, restructure debt, and offer the sewer system "a fresh start," court documents said.

Bankrupt Jefferson County, Ala., began marketing efforts in earnest in advance of selling $1.74 billion of sewer system refunding warrants to finance its exit from Chapter 9.

Former JPMorgan bankers argue that bankrupt Jefferson County, Ala.'s swap transactions are outside the Securities and Exchange Commission’s purview.

Jefferson County, Ala., plans to sell $1.7 billion of refunding sewer warrants before it exits Chapter 9 bankruptcy, according to County Commission President David Carrington.

Bankrupt Jefferson County, Ala., reached a deal with major creditors to accept bigger haircuts and allow a modified plan of finance for the county to emerge from Chapter 9 this year.

A federal permit improperly allows the Alabama Department of Transportation to begin work on the $5.4 billion “Northern Beltline” project, according to a federal lawsuit.

Jefferson County, Ala., said additional negotiations will be necessary with major creditors of the county’s debt-laden sewer system.

The restructuring plan proposed by bankrupt Jefferson County, Ala., is novel in public finance, and other defaulted issuers are using it, according to Moody's.

Moody's lowered the rating of Alabama State University to A3 from A2, and said the rating could drop further when the final results of a forensic audit are known.

The federal bankruptcy judge presiding over Jefferson County, Ala.'s Chapter 9 case tossed out billions in claims sought in two major suits.

Jefferson County, Ala., commissioners threatened to back out of a sewer warrant refunding critical to exiting bankruptcy without new haircuts from creditors.

More than a year after closing the books for 2012, bankrupt Jefferson County, Ala., has posted its audit for that year.