Southeast

The North Carolina Department of Transportation closes on a $145.5 million deal believed to be the first of its kind to use stand-alone, grant anticipation revenue vehicle bonds as interim financing.

Fitch Ratings on Tuesday dropped its BBB rating on the Fulton Science Academy Inc. in Georgia to below investment grade.

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.

Mississippi Gov. Haley Barbour on Tuesday submitted his final executive budget recommendations, and told legislators to curb spending for fiscal 2013 due to the state’s sluggish recovery.

Louisiana’s chief legislative economist, Greg Albrecht, told the Baton Rouge Press Club this week that more revenue problems could lie ahead.

Louisiana Gov. Bobby Jindal issued an executive order Dec. 16 to reduce general fund spending by $251 million through fiscal 2012.

The bankruptcy filing by Jefferson County could ultimately hinge on a ruling by the Alabama Supreme Court.

The Internal Revenue Service is auditing $177.2 million of Series 2005I long-term adjustable-rate hospital revenue bonds issued by the Highlands County, Fla., Health Facilities Authority for the Adventist Health System/Sunbelt Group.

Virginia Gov. Robert McDonnell Monday outlined his biennial budget for fiscal 2013-14, which includes enhancing reserves to protect the state's gilt-edge ratings and additional funds to help insulate the state against cuts in federal revenue.

U.S. Bank NA notified the market that it was sued by Fiddler's Creek Community Development District 2 in South Florida.