Southeast

Louisiana Tobacco Settlement Financing Corp. gave preliminary approval to proposal to refunding $823.1 million of bonds supported by the state's portion of the 1998 settlement with cigarette companies.

Legislation in Kentucky that would cap the amount of debt Kentucky's by the state's general fund appropriations was approved by the Senate State and Local Government Committee last week.

The judge overseeing Jefferson County, Ala.'s bankruptcy case this week began hearings on a $1.63 billion class-action claim seeking to invalidate the county's sewer warrants.

Bankrupt Jefferson County, Ala., reached a settlement with Depfa Bank to reduce the interest rate on $162.5 million of variable-rate school warrants.

Moody's Investors Service has downgraded to B2 from Aaa the rating of $1.6 million of outstanding taxable multifamily housing revenue bonds issued by the Harrisonburg, Va., Redevelopment & Housing Authority in 2001.

Florida's largest county, Miami-Dade, got a boost when Moody's revised the outlook on the county's credit to stable from negative.

A new deal to build the Atlanta Falcons a new $1 billion stadium is emerging since state lawmakers would not support it. The Atlanta Development Authority may issue bonds instead.

Historically low interest rates last year helped boost bond sales across the Southeast to $63 billion, an increase of 33% over 2011. The surge in debt was propelled by refundings.

Moody's and S&P last week dropped Ohio, Ky.'s $83.3 million of pollution control refunding revenue bonds for Big Rivers Electric Corp. below investment grade.

Gov. Nathan Deal on Monday announced that Georgia's net tax collections for January totaled $1.73 billion for an increase of nearly $164 million, or 10.4%.