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Headlines Tagged with Bonds 1,540 headlines found

11 Views

Years After Tobacco Deals Sold, SEC Says Rating Agencies Still Conflicted

The SEC's annual examination of the firms' business practices, published on the same day as ProPublica's ratings story, cited numerous examples of how the firms continued to compromise the objectivity of their rating process during the 2013 calendar year
ProPublica
added Jan 13, 2015 20:42
25 Views

Behind New Jersey’s Tobacco Bond Bailout, A Hedge Fund’s $100 Million Payday

When New Jersey decided to bail out some of its tobacco bonds, the state gave up $400 million in future revenues to pocket $92 million immediately, an arrangement that also helped one savvy investor cash in on a big bet.
ProPublica
added Dec 30, 2014 23:00
5 Views

Bankers Brought Rating Agencies ‘To Their Knees’ On Tobacco Bonds

Wall Street pressed S&P, Moody’s and Fitch to assign more favorable credit ratings to their deals and bragged that the raters complied. Now many of the bonds are headed for default.
ProPublica
added Dec 24, 2014 06:38
19 Views

[Rhode Island] Oppenheimer funds fighting tobacco bond refinancing

In a lawsuit filed in R.I. Superior Court, two mutual funds controlled by Oppenheimer Funds are trying to block the tobacco bond refinancing, which they claim defrauds their investors.
Providence Business News
added Dec 8, 2014 15:46
10 Views

How Tobacco Bonds Work, and What Can Go Wrong

States and localities got cash up front but may end up paying back a lot more than they expected.
ProPublica
added Oct 30, 2014 20:30
5 Views

Investors Haul In Nearly Half the Tobacco Settlement Cash

An updated tally by ProPublica shows that tobacco bondholders are due $2.6 billion of the $6 billion in this year’s payouts to state and local governments from Big Tobacco.
ProPublica
added Oct 30, 2014 20:28
0 Views

Podcast: In Big Tobacco Cash, a Boon Turned Burden

It seemed a boon then, but as Cezary Podkul tells ProPublica Editor in Chief Steve Engelberg in today’s podcast, things haven’t exactly turned out that way.
ProPublica
added Oct 30, 2014 20:26
10 Views

How We Analyzed New York County Tobacco Bonds

Users can see how interest rates and declining cigarette sales affect the bottom line for counties that borrowed against income from the landmark tobacco settlement.
ProPublica
added Oct 30, 2014 20:25
2 Views

Tobacco Debt: How Cash From Big Tobacco Went From Boon to Burden

ProPublica
added Oct 30, 2014 20:23
3 Views

How One New York County Fell Into the Tobacco Debt Trap

A refinance of Niagara County’s tobacco bonds was good news — but for investors, not taxpayers.
ProPublica
added Oct 30, 2014 20:22
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