Tennessee

The Internal Revenue Service is auditing $3.19 billion of gas project revenue bonds that the Tennessee Energy Acquisition Corp. issued in 2006.

Nashville Mayor Karl Dean is proposing a $300 million, bond-financed capital plan for fiscal 2013.

Fitch Ratings last week downgraded the Memphis-Shelby County Airport Authority’s rating to A from A-plus.

Though Rob Baird developed an early interest in politics, most of his career was spent climbing the ladder at Memphis-based Morgan Keegan & Co.

Tennessee Comptroller Justin Wilson said Monday that the state and local governments are doing a better job of reporting financial information in a timely manner.

Memphis-headquartered Pinnacle Airlines Corp. filed for Chapter 11 reorganization on Sunday.

The Clay County, Tenn., Gas Utility District has again extended and modified its tender offer.

For a second time, the Clay Gas Utility District of Clay County, Tenn., has extended a tender offer to buy back its bonds for 10 cents on the dollar.

The Clay Gas Utility District of Clay County, Tenn., has extended a tender offer through Friday to buy back its bonds for 10 cents on the dollar.

BRADENTON, Fla. — Tennessee hopes that historically low interest rates will fuel its high-grade refunding deal this week with far greater savings than the state's 4% threshold for refinancings.

The Tennessee Energy Acquisition Corp. on Monday announced that it received consent from a majority of bondholders to make changes in the indenture and the gas-purchase agreement relating to its Series 2006A and B bonds.

The Clay Gas Utility District of Clay County, Tenn., never made a payment on its bonds over the past decade. Now the district is offering to buy them for 10 cents on the dollar in a contingent tender offer.

Radian Asset Assurance Inc. accelerated payment of $4.9 million of bonds owed by Lambuth University, according to a market notice filed Tuesday by Bank of New York Mellon, the trustee.

Moody’s Investors Service Monday placed on review for upgrade the Ba3 rating on the Tennessee Energy Acquisition Corp.’s 2006A gas project revenue bonds.

Officials in Memphis are considering offering incentives to keep the headquarters of Morgan Keegan & Co., and its jobs, in the city if the firm is sold, according to the Commercial Appeal newspaper.

The troubled Clay County Gas Utility District has notified the bond market that, due to a lack of funds, it was unable to make Dec. 1 principal and interest payments on its Series 1998 bonds.

Standard & Poor's on Tuesday lowered a portion of the Tennessee Valley Authority's debt to AA-minus from AA-plus because the authority is less likely to receive support from the federal government in times of distress, the rating agency said.

A promised redemption of troubled bonds issued by the Clay County Gas Utility District did not happen. It wasn’t the first such disappointment.

BRADENTON, Fla. - Memphis-based Morgan Keegan & Co. has hired Rob Larkins as a managing director to head up the firm's new public finance office in San Francisco.

BRADENTON, Fla. - Public Financial Management Inc. has hired David Eichenthal as a senior managing consultant to open the firm's new office in Chattanooga, Tenn.