KBRA Affirms the Ratings for District of Columbia Tobacco Settlement Financing Corporation, Series 2006
13 Sep 2024 | New York
Kroll Bond Rating Agency (KBRA) is affirming each of the outstanding ratings on the Series 2006 Bonds of the District of Columbia Tobacco Settlement Financing Corporation (the Corporation). The bonds are secured by payments made by the tobacco participating manufacturers under the Master Settlement Agreement (MSA). The affirmation of the ratings reflects the structural subordination of the Series 2006 Bonds to the Corporation’s existing Series 2001 Bonds. Since the bonds are capital appreciation bonds, they do not currently receive periodic interest payments. The data used for this review is as of the May 2024 officer’s certificate; reports are delivered semi-annually in May and November.
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