Southeast

In a financial mess that spans the Atlantic, Louisiana affiliates of a German wood pellet processing firm filed for Chapter 11 bankruptcy, potentially leaving bond investors on the hook for a project poised to receive millions in state incentives.

North Carolina Gov. Pat McCrory’s $2 billion “NC Connect” bond referendum won easily Tuesday, when Republican voters also nominated him for a second term.

The collapse of the Port St. Lucie, Fla.-based Vaccine and Gene Therapy Institute prompted Moody's Investors Service to review the city’s bond ratings for possible downgrade.

Louisiana selected underwriters Tuesday for a general obligation refunding of up to $600 million to patch a portion of the state’s massive deficit.

Growth in the P3 market has been slow and fragmented so far, but it is positioned for rapid growth, Moody’s Investors Service says.

Jefferson County, Ala., said in a notice Monday it paid $5.37 million earlier this month to the Internal Revenue Service for investing some of its 2004 school warrants at interest rates higher than allowed by federal tax laws.

Georgia saw state revenues jump a whopping 24.9% in February, although state officials said Internal Revenue Service security breaches helped skew the results by delaying refunds.

If North Carolina voters allow the state to issue $2 billion of general obligation bonds it could signal a shift in sentiment about tax-backed debt issuance, according to Fitch Ratings.

Louisiana-based Adam and Reese LLP has promoted partner Tracy Averett Morganti to head the firm's public finance team.

House Bill 347 received final passage Thursday in the Florida senate allowing certain entities to issue securitized bonds to finance water and sewer projects.