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Headlines Tagged with Settlements 14,513 headlines found

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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
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U.S. tobacco bond market shrugs off Fitch move to ditch ratings

Moody's Investors Service and Standard & Poor's still rate tobacco bonds. "I think that perhaps it just doesn't fit their process," said John Miller, co-head of fixed income for Nuveen Asset Management, regarding Fitch's action. "I'm a little bit surpri
Reuters
added May 18, 2016 16:43
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JENKINS: Exxon Is Big Tobacco? Tell Me Another

take a look at tobacco stock prices. Yup, all up strongly since the 1998 “master settlement agreement” that 46 states imposed on Big Tobacco ostensibly as punishment for its sins. How was the industry expected to pay $246 billion in alleged Medicaid dama
The Wall Street Journal Interactive Edition
added May 18, 2016 07:14
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Tobacco fund Money to Help Ease Oklahoma Physician Shortage

Oklahoma's Tobacco Settlement Endowment Trust is announcing a six-year, $3.8 million grant to help address a shortage of physicians in the state. Trust officials announced Monday a partnership with the Oklahoma State University Center for Health Science
AP - Associated Press
added May 17, 2016 20:19
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Fitch Intends to Withdraw All Ratings on US Tobacco ABS

The primary reason for the intended withdrawal is that individual, custom modifications to material calculations originally part of the base Master Settlement Agreement (the MSA) have eroded Fitch's confidence that ratings can be consistently maintained,
Business Wire
added May 17, 2016 17:17
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R.J. REYNOLDS TOBACCO COMPANY, PHILIP MORRIS USA INC., COMMONWEALTH BRANDS, INC., ET AL., v. COMMONWEALTH OF PENNSYLVANIA: On Petition For A Writ Of Certiorari To The Commonwealth Court Of Pennsylvania (PDF)

In this multi-hundred-million-dollar dispute under the landmark tobacco MSA, the state court below invalidated as “irrational” an arbitration award that had been unanimously issued by a Panel of three former federal judges, including Judge Abner Mikva of
Jones Day
added May 13, 2016 19:50
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What the Sandy Hook gun lawsuit can borrow from the Big Tobacco fight

dismissed the comparison to tobacco litigation as "an old and invalid analogy." "Tobacco, when used as intended, causes harm to the user," he said via email. "Firearms, when used as intended, save lives. The lawful commerce in firearms is constitutionally
CNN
added May 13, 2016 18:21
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Moody's downgrades Puerto Rico's Children's Trust Tobacco Settlement Bonds, Series 2002

The rating action reflects the uncertainty surrounding future actions of the Puerto Rican government with respect to payments due on the bonds in this transaction.
Moody's Investors Service
added May 12, 2016 03:48
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OLSON: Winners and Losers from the FDA's Vaping and Cigar Crackdown

Under the 1998 tobacco settlement, which I and others at Cato have criticized at length, a large chunk of revenue from these conventional sales goes to state governments. But this revenue source has been eroded badly as smokers switch to vaping, a trend t
Cato Institute
added May 12, 2016 02:52
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LITTLE: The Climate Change Inquisition, Part II—The Scandal Unfolds

These extortionate suits are cynically Made to Settle....The tobacco settlement was, to quote MIT Professor John Gruber, “a tax because it’s a set of payments made by tobacco companies that depend on how many packs they sell"; in short, it looks like a ta
The Federalist Society
added May 11, 2016 13:04
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