Philip Morris Makes Full '06 MSA Payment

Albanese, Elizabeth
April 2006
Bond Buyer;4/4/2006, Vol. 356 Issue 32353, p1
Trade Publication
The article reports on the payment of Philip Morris USA Inc. for tobacco bonds under the terms of the 1998 Master Settlement Agreement (MSA) in the U.S. According to the report, the company has paid 3.4 billion dollars for its 2006 payment. The companies which have signed on to the MSA have until April 17 to make their 2006 payments. Brattle Group has ruled that tobacco companies can reduce their expected 2006 payment because of market share encroachment in 2003 by companies that failed to sign the agreement.


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