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Alabama official sees debt talks continuing

Mon Oct 6, 2008 1:53pm EDT

BIRMINGHAM, Ala., Oct 6 (Reuters) - Alabama's governor, creditors and others trying to restructure Jefferson County's $3.2 billion of troubled debt will likely seek and get another standstill agreement, a county commissioner said on Monday.

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The restructuring talks aimed at averting what could be the largest municipal bankruptcy filing in U.S. history are now being held under a forbearance agreement against default penalties that expire on Wednesday.

The Jefferson County Commission last week approved a seven-day extension of a standstill agreement so Gov. Bob Riley, county officials, Wall Street creditors and others could keep bargaining. (Reporting by Melinda Dickinson; Writing by Michael Connor in Miami; Editing by Leslie Adler)

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