Alabama county says hopes for debt settlement soon

Reuters News
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Posted: Jul 11, 2011 3:54 PM
Alabama county says hopes for debt settlement soon

BIRMINGHAM, Alabama (Reuters) - Alabama's Jefferson County hopes for a settlement of its $3.2 billion debt by July 29, the end of a 30-day window agreed with creditors for talks, the county commission president said on Monday.

"I have been very involved with the governor's office in negotiating a settlement. I hope that we will reach a settlement very soon," county commission president David Carrington told Reuters, adding that he hoped a deal would be reached by July 29.

(Reporting by Melinda Dickinson; Writing by Matthew Bigg, Editing by James Dalgleish)