Alabama

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.

Gov. Robert Bentley last week said Alabama would appeal after the 11th Circuit Court of Appeals refused a request from his state and Florida to reconsider a ruling that allows Atlanta and other surrounding communities to withdraw drinking water from Lake Lanier.

BRADENTON, Fla. - A federal judge in Alabama Wednesday dismissed the Securities and Exchange Commission's suit against former Birmingham Mayor and Jefferson County Commission president Larry Langford, ending a case that began more than three years ago.

Cash-strapped Jefferson County got a small windfall last week when a local judge ordered the return of $6.4 million from escrowed occupational taxes.

BRADENTON, Fla. - The Jefferson County, Ala., Commission Friday avoided filing the largest municipal bankruptcy in U.S. history by agreeing to a restructuring deal with creditors holding about $3.11 billion of defaulted variable- and auction-rate sewer warrants.

BRADENTON, Fla. - Jefferson County, Ala., commissioners meet Friday with bankruptcy still on the table. Once again, they will consider whether to approve a deal with creditors to restructure $3.14 billion of defaulted sewer debt, or to file for Chapter 9 bankruptcy, or continue with negotiations as they did in August.

Jefferson County commissioners Tuesday postponed a vote on hiring the county’s first manager.

BRADENTON, Fla. - Just days before a critical decision on how to deal with $3.14 billion of defaulted sewer debt, Jefferson County, Ala., commissioners plan to hire the county's first manager.

Former Jefferson County commissioner Larry Langford last week requested that the U.S. 11th Circuit Court of Appeals rehear the appeal of his pay-to-play conviction.