WASHINGTON - Hundreds of municipal issuers of auction-rate securities are still grappling with failed auctions that have resulted in sky-high interest rates, eight months after broker-dealers stopped supporting auctions and the ARS market collapsed.

Though the tumult in the auction-rate securities market has shifted from the foreground amid the global financial crisis, issuers still have about $81.5 billion of ARS outstanding, according to statistics collected by Bloomberg LP.

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