TITLE

Moody's: Despite Tobacco MSA Turbulence, Ratings Still Apply

AUTHOR(S)
Albanese, Elizabeth
PUB. DATE
June 2006
SOURCE
Bond Buyer;6/20/2006, Vol. 356 Issue 32406, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Moody's Investors Service Inc. has stated that changes in tobacco bond ratings would be permanently affected by reduced Master Settlement Agreement (MSA) payments by tobacco companies in Texas. Under the terms of the MSA, manufacturers that signed the 1998 agreement can reduce their annual payments if they lose more than two percent of the market share in any given year to non–participating manufacturers.
ACCESSION #
21319316

 

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