Alabama

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.

A former financial advisor for bankrupt Jefferson County, Ala., claims Citi, the investment bank heading up JeffCo’s sewer warrant refunding, violated Rule G-23.

Citing a materially weakened financial position, Moody's downgraded Montgomery, Ala.'s issuer and general obligation limited tax ratings to A1 from Aa2.

Jefferson County, Ala., failed to properly inform residents about the plan that will allow the county to exit bankruptcy, according to a complaint filed Friday.

Jefferson County, Ala., commissioners Monday narrowly adopted new sewer rate increases that underpin resolution of the nation's second-largest municipal bankruptcy.

With Southeast issuers facing big-ticket costs to rehab water and sewer systems under federal court orders, doubt about the future of munis is raising concern.

Jefferson County, Ala.'s bankruptcy attorney said a report by Moody's showing that the county's bondholders will have lower recoveries than the county anticipates is "unfair."

Alabama got $88 million more in bonuses for its Children's Health Insurance Program than allowed, the U.S. Department of Health and Human Services' inspector general said.

Calvin Grigsby is protesting Jefferson County, Ala.'s proposal to reject a claim for $1.63 billion in the county's bankruptcy case.

Jefferson County, Ala.'s attorney says that rising interest rates make it "almost inevitable" that the plan to refinance defaulted sewer debt must be renegotiated.

Jefferson County, Ala., finalized an agreement with the IRS to protect the county’s tax-exempt sewer system warrants in return for a $4.5 million payment.

Officials overseeing bankrupt JeffCo get a lesson in "disclosure responsibilities" from disclosure expert John McNally, a partner at Hawkins, Delafield, & Wood.

Municipal bond issuance in the Southeast dropped nearly 12% to $30.7 billion in the first half of 2013. Sales were down in eight of the 11 states comprising the region.