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U.S. municipal tobacco bonds face downgrades from Fitch
July 16, 2012 / 8:09 PM / 5 years ago

U.S. municipal tobacco bonds face downgrades from Fitch

July 16 (Reuters) - Some 150 tranches of U.S. municipal tobacco bonds could be downgraded one to two notches within the next two to four weeks, Fitch Ratings said on Monday, as it now assumes the payments states get will remain level instead of rising 1 percent.

States, counties, cities and towns sold billions of dollars of tobacco bonds backed by payments cigarette-makers agreed to make to help pay for the costs of treating ailing smokers.

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