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JPMorgan Sees No Material Impact in Jefferson County Bankruptcy

JPMorgan Chase & Co. 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.

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