Tobacco.org

Fitch Expects to Rate Puerto Rico Tobacco Transaction `A+' 

Fitch expects to assign an `A+' rating to The Children's Trust Fund's (CTF) issuance of approximately $410 million of tobacco settlement asset- backed bonds, series 2000. The `A+' ratings address the issuer's ability to make timely payment of interest and pay serial maturities and rated maturities. This is the eighth transaction backed by tobacco settlement revenues to be rated by Fitch.

The `A+' rating is based on the credit quality of the collateral securing the bonds, which consists of Initial Payments, Annual Payments and Strategic Contribution Fund Payments to be made by the four largest domestic tobacco manufacturers under the Master Settlement Agreement (MSA)

Jump to full article »