Philip Morris Payment Boosts MSA Bonds; Trouble Ahead for Reynolds

Albanese, Elizabeth
April 2003
Bond Buyer;4/16/2003, Vol. 344 Issue 31616, p1
Trade Publication
Reports on the performance of tobacco bonds in the United States. Scheduled payment of Phillip Morris USA Inc. to states; Characteristics of tobacco bonds.


Related Articles

  • King County, Wash., Offers $200M; Cash Bonds Fall Up to 4 Basis Points. Chesla, Nicholas // Bond Buyer;4/1/2003, Vol. 344 Issue 31605, p2 

    Underwriters priced more than $200 million of new loans for King County, Washington, while cash bond yields fell between two and four basis points and more in spots on March 31, 2003 even as tobacco bonds came under pressure.Traders said that yields on tobacco bonds rose while Philip Morris USA...

  • The Impact of a Tobacco Company Bankruptcy on MSA Bonds. Dubrow, David L. // Bond Buyer;7/28/2003, Vol. 345 Issue 31686, p33 

    Examines the impact of tobacco company Philip Morris Inc. bankruptcy on Master Settlement Agreement (MSA) bonds. Characterization of MSA bonds; Impact of bankruptcy filled by tobacco company on payments under MSA; Provisions under MSA.

  • Tobacco Falls After Illinois Court Ruling. Albanese, Elizabeth // Bond Buyer;7/16/2003, Vol. 345 Issue 31678, p1 

    Reports on the fall of tobacco bonds of New York-based Philip Morris USA Inc. by two points on July 15, 2003. Reasons attributed by the traders for the fall; Order of the Illinois's Fifth District Court of Appeals to send back the bond question to Madison County Circuit Court (MCCC); Decision...

  • Tobacco Debt Still Steady Despite Suits. Albanese, Elizabeth // Bond Buyer;7/16/2004, Vol. 349 Issue 31927, p1 

    Reports that the performance of the tobacco bond market remains steady despite of lawsuits filed against tobacco manufacturer Philip Morris USA Inc. in the United States. Decision of plaintiffs who won a case against Phillip Morris to asked the Illinois Supreme Court to uphold the ruling; U.S....

  • Supreme Court's Philip Morris Ruling Could Be Positive for MSA. Ackerman, Andrew // Bond Buyer;2/21/2007, Vol. 359 Issue 32572, p7 

    The article reports on the decision of the U.S. Supreme Court to set aside a punitive damages of $79.5 million against Phillip Morris and sent back the case to lower court for reconsideration. The court refused to give statement if it would resolve a high-profile Kentucky bond dispute that...

  • Relief for tobacco no cause for upgrades. M.G. // Asset Securitization Report;4/14/2003, Vol. 3 Issue 15, p3 

    Reports that Illinois Circuit Court Judge Nicholas Byron, who had previously ruled against Philip Morris Cos. Inc., has indicated that he may lower the company's bonding requirements. Link between the tobacco securitization ratings and the credit of the industry as a whole; Possibility for...

  • Latest Tobacco Ruling Already Priced Into Market for MSA Bonds. Albanese, Elizabeth // Bond Buyer;12/28/2005, Vol. 354 Issue 32287, p32 

    The article focuses on the benefit of tobacco bonds on the victory of the tobacco industry by the Illinois Supreme Court. The ruling overturned a judgment against Philip Morris USA Inc. Yields for the sector have not changed markedly after the ruling. The ruling was seen as a positive event for...

  • NASD Eying Tobacco Debt Trade Prices. Hume, Lynn // Bond Buyer;4/7/2003, Vol. 344 Issue 31609, p1 

    U.S. National Association of Securities Dealers (NASD) is closely examining tobacco bond trade prices in the wake of complaints by some market participants that dealers may be trying to take advantage of investors in the turmoil resulting from a 12 billion dollar bond cigarette company Philip...

  • Philip Morris Faces Lawsuit By AGs If It Misses MSA Payment. Albanese, Elizabeth // Bond Buyer;4/7/2003, Vol. 344 Issue 31609, p6 

    Attorneys general from 46 states will send cigarette company Philip Morris USA Inc. a letter during early April 2003 stating their intention to file a lawsuit against the firm if a Master Settlement Agreement (MSA) payment due on April 15 is missed. The attorneys general will also file an amicus...


Read the Article


Sign out of this library

Other Topics