Analysts say tobacco settlement fight may have impact on Texas' ratings
- Rating agencies say tobacco payments could be a boon to state credit profiles. Kruger, Daniel // Bond Buyer;03/13/2000, Vol. 331 Issue 30847, p4
Reports on the impact of settlement funds from the tobacco industry on the overall credit profile of states in the United States. Difficulty of determining what kind of programs will receive funding from tobacco settlement dollars; Securitization as a way to diversify the risk of payments from...
- Kraft needs a cigarette break from parent firm. // Crain's Chicago Business;4/14/2003, Vol. 26 Issue 15, p8
Focuses on problems faced by Kraft Foods Inc. due to its ownership by tobacco company Altria Group Inc. Nearly 15 years of ownership of Kraft Foods by Altria is beginning to cause problems for the food giant, especially since a court ordered Altria Group to put up a 12-billion dollar bond while...
- Tobacco prices in Argentina, dried fruit up next. // Asset Securitization Report;4/5/2004, Vol. 4 Issue 14, p21
Reports that the Argentinian group Cooperativa de Tabacaleros de Jujuy issued a one-year bond in 2004. Structure of the bond; Bond rating; Market focus of lead issuers Cohen Bursatil and Nacion Bursatil; Other transactions managed by deal structurer Banco Nacion; Tobacco prices in the country.
- Justice Dept. Suit Could Affect Tobacco Ratings; Companies Seek Trial Delay. Albanese, Elizabeth // Bond Buyer;9/3/2004, Vol. 349 Issue 31962, p5
Focuses on the impact of judgment in favor of the federal government in the pending lawsuit against the tobacco industry with credit ratings for tobacco companies. Worth of the lawsuit; Appeal of tobacco companies for delay of trial; Schedule of the trial.
- Fitch sees rough waters ahead. K.D. // Asset Securitization Report;4/21/2003, Vol. 3 Issue 16, p7
Reports that Fitch Ratings Inc. has expressed concern over the future performance of certain troubled asset-backed securities issuers. Consequences of poor credit ratings; Changes in Fitch's credit-card rating methodology; Future of the airline and tobacco industries.
- Tobacco bonds. Ryst, Sonja // Bond Buyer;11/24/99, Vol. 330 Issue 30775, p6
Presents a digest of a Legg Mason Wood Walker Inc. research on the impact of the potential financial strain on the corporate credit ratings of major tobacco companies in the United States. Warning for investors to consider the structure of the issues when assessing bonds backed by the national...
- Tobacco Ratings at Risk? Albanese, Elizabeth // Bond Buyer;5/3/2005, Vol. 352 Issue 32124, p1
The article focuses on a report of Standard & Poor's Corp., according to which, tobacco bond ratings could dip still lower if large tobacco companies opt to take advantage of the so-called non-participating manufacturer clause in the 1998 Master Settlement Agreement that allows them to lower...
- S&P: Engle Ruling Will Not Affect Tobacco Bond Ratings. Albanese, Elizabeth // Bond Buyer;7/10/2006, Vol. 357 Issue 34219, p4
The article reports that a long-anticipated ruling in the Engle class action lawsuit that favored the tobacco industry will not affect tobacco bond ratings according to Standard & Poor's Corp. The outlook for tobacco bonds will remain negative. The Florida Supreme Court reversed a 145 billion...
- Colorado Treasurer Offers New $800M Tobacco Bond Plan. Albanese, Elizabeth // Bond Buyer;11/18/2004, Vol. 350 Issue 32013, p40
Reports that Colorado Treasurer Mike Coffman has proposed selling tobacco settlement bonds in order to boost the state's credit rating. Aim of raising funds for K-12 public education; Deficit of the state; Ratings of the state by Standard & Poor's Corp. and Moody's Investors Service; Bond...