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Headlines Tagged with Bonds 1,540 headlines found


New Jersey to refund junk tobacco bonds for $3.2 billion of high-grade paper

New Jersey will sell $3.2 billion of tobacco refunding bonds on April 4 in a deal that effectively strips the debt of its junk rating and elevates it to investment grade. The deal, the largest of next week’s $8 billion of U.S. municipal bond and note sal
added Mar 30, 2018 16:08

Tobacco Bond Risks Grow; Fitch Loses Confidence, Pulls Ratings

Fitch’s action hasn’t dented the strong performance of tobacco bond index, up 4% in the past month alone. Nonetheless, Eaton Vance’s Cynthia Clemson writes in a Wednesday blog post that Fitch’s decision highlights risks in the popular securities.
Barron's Blogs
added May 19, 2016 21:34

Could Tobacco Money Help Ease Kansas's Woes?

This could make a lot of sense, because cigarette sales have been declining for years. 19 other states have already done enacted the plan.
High Plains Public Radio (HPPR)
added Apr 26, 2016 20:16

Official Statement: New Jersey Treasury Department!

The State takes very seriously its relationship with bondholders ...Although not legally compelled to resolve a potential default situation with the tobacco bonds, the State sees an advantage in maintaining good relations with the tobacco bond investors
added Aug 8, 2014 11:49

New York Tobacco Debt Gets Boost From Arbitrator Ruling

Bonds issued by New York local governments and payable by revenue from a national settlement with major tobacco companies will get a boost from an arbitration panel’s decision to order the companies to pay the state more than $92 million, said Richard La
Bloomberg News
added Sep 12, 2013 12:03

[New York] Up in smoke: Counties gave up millions from tobacco settlement for short-term gains

Lower Hudson Valley counties forfeited most of the $659 million they were to receive from a 1998 legal settlement with tobacco manufacturers, selling off their interests and scattering the short-term gains in financial deals that cost taxpayers tens of m
New York Journal News
added Jun 18, 2012 14:23

Correction: Fitch Completes U.S. Tobacco ABS Portfolio Review

Fitch Ratings has completed its annual review of tobacco ABS ratings accounting for the amount of Master Settlement Agreement (MSA) payment received by each trust in 2015. For 2015, the aggregate MSA payment was 0.36% higher than the amount 2014.
Business Wire
added Dec 1, 2015 01:16

Tobacco-Bond Deals Revived as U.S. States Conjure Up Budget Cash

Almost two decades after U.S. states settled with tobacco companies on payments for health-care costs, officials are still finding new ways to tap the revenue stream to close budget gaps and fund programs.
Bloomberg News
added Apr 13, 2015 11:12

[UK] Buying shares? First take a look at the bonds

It worked for Neil Woodford when he bought tobacco shares: you can find important clues about a company from the way its bond are trading Neil Woodford bought shares in tobacco companies after seeing who owned their bonds Photo: Alamy
Electronic Telegraph (uk)
added Dec 2, 2013 15:10

[Illinois] Tobacco-Bond Woes Seen as Chicago Seeks Highest Tax: Muni Credit

Mayor Rahm Emanuel’s plan to make Chicago cigarette taxes the nation’s highest is the latest blow to tobacco bonds, the weakest revenue-backed municipal debt of the past three months. Buffeted by tax increases, stricter regulation and e-cigarettes that
Bloomberg News
added Oct 30, 2013 14:38
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