Fitch Lowers $18B in Tobacco Debt Again

Finestone, Deborah
May 2003
Bond Buyer;5/7/2003, Vol. 344 Issue 31630, p1
Trade Publication
Fitch Ratings Inc. on May 7 2003, downgraded for the second time in a month all of its outstanding tobacco settlement securitization ratings, following its simultaneous two-notch downgrade of tobacco industry corporate ratings to BBB-minus. All ratings are removed from Rating Watch Negative where they were placed in late March 2003 after an Illinois judge ordered the nation's largest tobacco manufacturer, Altria Group Inc., to pay a 12 billion dollar appeal bond in a lawsuit brought by smokers of light cigarettes.Fitch also lowered R.J. Reynolds Tobacco Co., another of the four domestic tobacco manufacturers involved in the 1998 Master Settlement Agreement with 46 states.


Related Articles

  • JURISDICTION (PERSONAL).  // International Law Update;Jan2006, Vol. 12, p11 

    The article informs that the Ninth Circuit in the U.S. has decided that smoker may sue R.J. Reynolds Tobacco Co., based in North Carolina, in Washington state for its alleged part in worldwide conspiracy to deny addictive and harmful effects of smoking over defendant's objections based on lack...

  • RJR, Philip Morris Dip Into Smokeless Tobacco Realm. Beirne, Mike // Brandweek;5/8/2006, Vol. 47 Issue 19, p18 

    The article focuses on the advertising strategies for the smokeless tobacco pouches launched by R. J. Reynolds and Altria companies for their brands Camel Snus and Philip Morris USA respectively. The printing out paper for Taboka from Altria was designed by Leo Burnett and will state "Instead of...

  • Keeping Watch on the 'Others'. Covino, Renée M. // Convenience Store News;11/11/2013, p3 

    The article focuses updates in the tobacco sector in the U.S. It highlights the initiative of several tobacco companies to boost their smokeless alternatives in an effort to reduce harm associated in smoking. It also mentions the effort of the Altria Group Inc. to expand the distribution of its...

  • Government, Tobacco Firms Battle Over Disgorgement Ruling. Vadum, Matthew // Bond Buyer;11/18/2004, Vol. 350 Issue 32013, p6 

    Reports on the dispute between the United States government and the tobacco industry over the issue of disgorgement under the Racketeer Influenced and Corrupt Organizations Act (RICO) in connection with the lawsuit filed by the government against tobacco firms. Filing of suit against Philip...

  • RJR claims FTC harassment over Joe.  // Advertising Age;6/23/1997, Vol. 68 Issue 25, p25 

    The article reports on the lawsuit filed by R.J. Reynolds Tobacco Co. against the United States Federal Trade Commission (FTC), to complaint for harassment and political interference in their attempt to banish the Joe Camels cigarette brand. The company claimed that the FTC violated its own...

  • R.J. Reynolds president says it follows strict marketing. Roxe, Hilary // Buffalo Law Journal;4/7/2005, Vol. 77 Issue 28, p16 

    Focuses on the claim of Lynn Beasley, president of R. J. Reynolds Tobacco Co., on the marketing policies of the company. Details of the civil racketeering lawsuit filed against the company; Overview of the firm's marketing policies; Other tobacco companies included in the lawsuit.

  • Tobacco Companies Bump Prices. Master, Melisa // Convenience Store News;1/10/2005, Vol. 41 Issue 1, p12 

    This article reports that retailers will be paying more for cigarettes from Philip Morris and R.J. Reynolds in the new year, due to a combination of increased list prices and reduced discounts. Philip Morris USA, a unit of Altria Group Inc., reduced its" off-invoice" discounts to$ 5.50 a carton...

  • From Manufacturing to Retail, Tobacco Adapts and Changes. Bour, Norm // Tobacco International;Sep2014, Vol. 14 Issue 6, p30 

    The article describes how U.S. tobacco manufacturers like R.J. Reynolds, Lorillard and Altria are responding to the emergence of electronic cigarettes (e-cigs) and e-liquids and vaping or inhaling e-cigs' vapor. It cites major producers' establishment of noncombustible market share and...

  • Smokeless cigarettes not catching on with consumers.  // Marketing News;08/04/97, Vol. 31 Issue 16, p21 

    This article reports that the tobacco industry's recent $360 billion settlement with anti-smoking forces may spur companies to sell healthier cigarettes, which they've known how to make for decades. For the past year, R.J. Reynolds (RJR) Tobacco Co. of Winston-Salem, North Carolina, has tested...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics