MUNICIPAL DEBT

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Why U.S. munis bond holders are not to worry

NEW YORK | Last November, the U.S. dealt with their biggest municipal bankruptcy in their history: Alabama’s Jefferson County, on the south of the Appalachians, filed for the so-called Chapter 9 after government officials and creditors (among them are JPMorgan and Bank of America) failed to set an agreement on the more than $3 billion in sewer debt. Jefferson county is not alone. More municipalities have been suffocated by debt since…