Southeast

The Alabama Supreme Court ruled Tuesday that Jefferson County can continue to collect an occupational and business license tax while appealing a lower court decision that it's unconstitutional.

Florida economists are now predicting a bigger budget shortfall than they projected just three months ago in a change that could translate into less bonding power for the state in fiscal 2012.

Investors who own bonds issued by the bankrupt Connector 2000 Association Inc. toll road have tentatively reached an agreement with the issuer and South Carolina to exchange their outstanding debt for new bonds.

The Tennessee State Funding Board is expected to approve a new model debt policy Wednesday establishing minimum requirements for all issuers selling debt, including state and local borrowers.

BRADENTON, Fla. — Cullman ­Regional Medical Center in Alabama, has had its ratings dropped to below investment grade by Fitch Ratings and Moody’s Investors Service about a year after refinancing all its bonds.

DALLAS — Gov. Bobby Jindal outlined plans to legislative leaders Thursday that would generate revenue quickly as Louisiana faces a $1.6 billion hole in the fiscal 2012 general fund budget.

WASHINGTON — The Capital Beltway Funding Corporation of Virginia, the issuer for $589 million for the Capital Beltway expansion project, on Monday will sell refunding bonds to convert its debt to tax-exempt bonds not subject to the alternative minimum tax, taking advantage of the stimulus law provision ­before it expires at the end of the year.

Hoping to tap the same investor momentum seen in a recent oversubscribed offering, Atlanta has accelerated plans to market a $505 million refunding for Hartsfield-Jackson International Airport that was expected to sell next year.

The Virginia-based Upper Occoquan Sewage Authority expects to competitively sell $84.7 million of revenue bonds on Tuesday for an expansion project to comply with Chesapeake Bay restoration requirements.

The Spartanburg Regional Health System was downgraded last week to A-plus from AA-minus by Fitch Ratings as a new facility has failed to fill beds as anticipated.