JPMorgan Arranging Alabama Swaps Provided Payoffs, SEC Shows
JPMorgan Chase & Co.’s Charles LeCroy explained to a colleague in 2003 how he planned to keep his job as the chief bond banker to Jefferson County, Alabama.

JPMorgan Ends SEC Alabama Swap Probe for $722 Million (Update4)
JPMorgan Chase & Co. agreed to a $722 million settlement with the U.S. Securities and Exchange Commission to end a probe into sales of derivatives that helped push Alabama’s most populous county to the brink of bankruptcy.

JPMorgan Ends SEC Alabama Swap Probe for $722 Million (Update2)
JPMorgan Chase & Co. agreed to a $722 million settlement with the U.S. Securities and Exchange Commission to end a probe into sales of derivatives that helped push Alabama’s most populous county to the brink of bankruptcy.

Irish Rating Cut Two Levels to AA- By Fitch, Citing Deficit
Ireland had its credit downgraded two levels by Fitch Ratings, which cited a widening budget deficit and the rising cost of bank-rescue measures.

Fitch Downgrades Ireland’s Issuer Default Ratings to AA-
Fitch Ratings downgraded the Republic of Ireland’s long-term foreign and local currency issuer default ratings to AA- from AA+ respectively. The outlook on the long- term IDR is stable.

California Sells $3.5 Billion of Bonds, Cuts Yields Below 5%
California sold almost $3.5 billion of tax-exempt bonds after raising prices and cutting yields as much as 0.15 percentage point from earlier estimates, in part because of a rebound in demand from individual investors.

Fitch Says East Europe Deficits Spell Rating Pressure (Update2)
Emerging Europe’s widening public deficits and debt levels have put the region’s credit ratings under pressure even as access to market financing improves, Fitch Ratings said.

California Estimated Bond Yields More Than Analysts Expected
California offered retail investors higher yields than some analysts had expected on the week’s largest tax-exempt offering.

Fitch Downgrades Greece to A- From A; Outlook Negative
Fitch Ratings said it downgraded Greece’s long-term foreign currency and local currency issuer default ratings to A- from A. The outlook is negative.

Muni Market Faces $11.3 Billion in New Issues, Most Since June
The municipal market tackles its biggest week for new bond issues since June, as Minnesota and Denver-based Catholic Health Initiatives lead more than $11.3 billion in planned fixed-rate offerings.