TITLE

Tobacco Payments Dip as Smokers Quit

AUTHOR(S)
Seymour, Dan
PUB. DATE
July 2010
SOURCE
Bond Buyer;7/1/2010, Vol. 373 Issue 33343, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the decrease of payments made by cigarette manufactures as people smoke less, which is the lastest setback to tobacco bonds in the U.S. Aoto Kenmochi, analyst at Fitch Ratings Ltd., notes the tendency of the excise tax to have a negative impact on consumption. The cost of paying off the bonds at a rate lower than the anticipated Master Settlement Agreement (MSA) payments is set by the tobacco bond structures to assure a cushion in case settlements come in below anticipations.
ACCESSION #
52219212

 

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