Jeffco in negotiations with creditors over $4-billion debt

The Birmingham Business Journal reports that Jefferson County is now negotiating with creditors to settle its more than $4-billion in debt. This comes eight months after the county filed the largest municipal bankruptcy in U.S. history.

The plan that is negotiated with the county's creditors must be approved by the bankruptcy court. It will likely allow the county to reduce the amount of total debt it owes.

More than $3-billion of the county's debt stems from the sewer project initiated by a previous administration.

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