South Carolina

WASHINGTON - An investor holding bonds wrapped with insurance from ACA Financial Guaranty Corp. has filed a lawsuit against the moribund insurer, which says it is no longer obligated to pay insurance claims related to the bonds following the issuer’s Chapter 9 restructuring agreement.

BRADENTON, Fla. — The Connector 2000 Association Inc. was expected to begin the exchange of restructured bonds on Monday as part of the South Carolina toll road operator’s bankruptcy plan, which went into effect last week.

WASHINGTON — A federal bankruptcy judge has approved the restructuring and reorganization of the debt of the Connector 2000 Association, a beleaguered toll road operator in Greenville, S.C.

WASHINGTON — A South Carolina bankruptcy judge held a hearing Friday to consider the restructuring plan for the Connector 2000 Association Inc., the bankrupt South Carolina toll road operator, setting up the issuer’s exit from bankruptcy after years of uncertainty for bondholders.

Lexington County School District No. 1 expects to competitively sell $35.9 million of qualified school construction bonds Thursday.

The Connector 2000 Association Inc., a beleaguered Greenville, S.C., toll road operator that a year ago defaulted on $329 million of bonds, needs bondholders to approve a tentative restructuring plan to exit bankruptcy.

WASHINGTON — South Carolina expects to competitively issue $342.7 million of refunding bonds and $126.2 million of general obligation bonds for four higher education institutions this week.

Investors who own bonds issued by the bankrupt Connector 2000 Association Inc. toll road have tentatively reached an agreement with the issuer and South Carolina to exchange their outstanding debt for new bonds.

The Spartanburg Regional Health System was downgraded last week to A-plus from AA-minus by Fitch Ratings as a new facility has failed to fill beds as anticipated.

WASHINGTON — The South Carolina Public Service Authority, the state’s largest issuer in 2009, expects to sell $300 million of Build America Bonds Tuesday for a nuclear power plant expansion, as the agency continues a transition away from coal power.

WASHINGTON — The South Carolina Infrastructure Bank, the state’s main issuer for highway project funding, expects to competitively sell $225 million of new-money and refunding bonds on Tuesday, following a downgrade by Moody’s Investors Service to A1 from Aa3 due to weakened debt-service coverage.

WASHINGTON — Pension reform is a top priority for South Carolina’s treasurer-elect, who comes to office as the triple-A state’s pension ­funding level sinks further below the ­national average and as municipal ­investors and regulators are scrutinizing pension funds more closely.

WASHINGTON — Senior bondholders of a South Carolina toll road’s debt are claiming they are owed at least $237.8 million as they continue to wrestle with state transportation officials over a debt restructuring plan.

The Richland County No. 2 School District expects to competitively price $136.6 million of bonds Tuesday, including refunding and taxable qualified school construction bonds.

WASHINGTON — The South Carolina Department of Transportation is challenging the Connector 2000 Association Inc.’s Chapter 9 bankruptcy filing, delaying efforts to restructure $369 million of the agency’s toll road bonds that went into default at the beginning of the year.

BRADENTON, Fla. — Boosted by the popularity of Build America Bonds and refunding opportunities, issuers in the 11 states that comprise the Southeast region sold $34.5 billion of municipal bonds in the first half of 2010, up 7.4% over the same period last year.

WASHINGTON — Florence County, S.C., will begin issuing $122.4 million of revenue bonds Monday for several projects at the McLeod Regional Medical Center as the hospital chain has demonstrated credit strength despite a struggling regional economy and the changing health care environment.

Investors and the state of South Carolina are haggling over who will get a bigger share of revenue from a bankrupt bond-funded toll road.

WASHINGTON — The Connector 2000 Association Inc., the troubled South Carolina toll road that went into default on Jan. 1, filed for bankruptcy on Thursday.

WASHINGTON — The South Carolina State Housing Finance and Development Authority next week expects to price $100 million of homeownership revenue bonds in its first issuance under the Treasury Department’s New Issue Bond Program.