Press Release|ABS

KBRA Withdraws Ratings Upon Full Repayment on Educational Enhancement Funding Corporation Tobacco Settlement Revenue Bonds, Series 2021

10 Jun 2025   |   New York

Contacts

KBRA withdraws its ratings on the Series 2021 bonds issued by Educational Enhancement Funding Corporation, which are backed by payments under the Master Settlement Agreement entered into by participating cigarette manufacturers. On September 16, 2021, EEFC issued five serial bonds with five different maturity dates. This action reflects the repayment in full of the serial bonds with maturity dates of June 1, 2025 and June 1, 2026, respectively, as reflected in the June 2025 reporting.

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Disclosures

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1009855

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