JPMorgan Sees No Material Impact in Jefferson County Bankruptcy

JPMorgan Chase & Co. (JPM) expects the bankruptcy of Jefferson County, Alabama, will have “no material impact” on the firm’s earnings, said Justin Perras, a company spokesman.

The county filed for Chapter 9 protection yesterday after state lawmakers didn’t back a September agreement with creditors led by New York-based JPMorgan to refinance $3.14 billion of sewer-system bonds. Perras commented in an e-mail.

To contact the reporter on this story: Dawn Kopecki in New York at dkopecki@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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