Defective Product Liability | Cigarettes & Tobacco / Smoking

Medicare Smoking Settlements News

Bond Uncertainty Due to Arbitrator Ruling on Tobacco Settlement

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At a glance:

Ratings on US Tobacco Settlement bonds could be affected by the arbitrator's ruling allowing the tobacco companies in question to cut this year's payment to the states that signed the agreement.
 
Payment is due on April 17.

Fitch Comments on Independent Tobacco Arbiter Ruling

Business Wire (press release) - 3/28/2006 8:34 PM

Fitch stated in its March 14 rating-action-commentary that the payment disputes under the MSA by the participating manufacturers could affect U.S. tobacco settlement ABS bonds going forward, though the resolution period is expected to be extensive. While transactions rated by Fitch incorporate liquidity reserves to cover temporary cash flow disruptions, Fitch has also stated that an unfavorable resolution of these disputes could lead to cash flow pressure, which in turn coul
 
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