Alabama

In a recent report affirming the Birmingham Airport Authority's A-minus rating, Fitch Ratings said that it would be evaluating the potential effects of surrounding Jefferson County's bankruptcy filing.

BRADENTON, Fla. — The federal judge in Jefferson County's bankruptcy case on Monday struck down two arguments by the receiver in charge of the Alabama county's sewer system supporting the contention that the receiver should remain in place.

BRADENTON, Fla. - The federal judge assigned to Jefferson County, Ala.'s bankruptcy case Tuesday gave attorneys additional time to file briefs concerning how much control the receiver of the county's sewer system is entitled to retain.

BRADENTON, Fla. - The federal judge in Jefferson County's bankruptcy said Monday that he is inclined not to remove the Alabama state court-appointed receiver of the county's sewer system, though he is expected to decide whether to limit the receiver's rate-setting powers.

BRADENTON, Fla. - Federal bankruptcy Judge Thomas Bennett on Monday will hear the first major arguments in Jefferson County's massive bankruptcy case to determine if a receiver should remain in charge of the county's sewer system.

Birmingham is working on a plan to issue $75 million of general obligation bonds for various capital projects, according to the Birmingham News.

BRADENTON, Fla. - Assured Guaranty Ltd. said Tuesday that it will reconsider insuring the bonds of municipalities and states that don't have a process to review and approve local bankruptcy petitions, citing Alabama as a primary example.

BRADENTON, Fla. - Since Jefferson County, Ala., filed the county's largest municipal bankruptcy in history last week, attention has largely focused on the county's $3.14 billion of nonrecourse sewer system debt.

Alabama issuers should not see their ratings lowered by the Jefferson County bankruptcy action, but investor perception could take its toll on future issues.

Retail reaction to the announcement late Wednesday that Jefferson County, Ala., filed the largest municipal bankruptcy in U.S. history is likely to be muted, yet will still be closely monitored, portfolio managers say.

Birmingham is pressuring Jefferson County to pay more than $11 million the county owes the city in back taxes and other collections.

BRADENTON, Fla. - Jefferson County, Ala., commissioners Wednesday voted to file the largest municipal bankruptcy in U.S. history, saying they could not come to terms with creditors over restructuring $3.14 billion of defaulted sewer debt.

BRADENTON, Fla. - Jefferson County, Ala., commissioners met Tuesday behind closed doors with attorneys discussing whether to finalize a pending settlement with creditors or to file bankruptcy.

The Birmingham City Council Tuesday urged Jefferson County to file for bankruptcy immediately, and asked Gov. Robert Bentley not to call a special session of the Legislature to assist the county with its debt and budget problems.

Over 1,400 of Alabama’s public school and college employees plan a mass exodus from their jobs on Dec. 1 due to mandated health insurance fee hikes, according to the Birmingham News.

Mobile is continuing to search for a new cruise ship to replace the Carnival Elation.

BRADENTON, Fla. - The Jefferson County sewer default saga isn't over, even after county commissioners announced a settlement agreement last month with creditors who hold more than $3 billion in defaulted sewer warrants.

The U.S. 11th Circuit Court of Appeals on Friday refused to consider rehearing the appeal of former Jefferson County commissioner Larry Langford on his pay-to-play conviction.

Jefferson County said in a material-event notice Tuesday that it had another payment default on some of its outstanding sewer warrants.

Jefferson County, Ala., commissioners offered the position of county manager to Hoover Mayor Tony Petelos Tuesday. He accepted and will start Tuesday, according to published reports.