Tobacco Settlement Financing Corp. $3.147 Billion Bonds Series 2018 Assigned Ratings

Stocks and Financial Services Press Releases Thursday April 12, 2018 11:46
NEW YORK--12 Apr--S&P Global Ratings

NEW YORK (S&P Global Ratings) April 11, 2018--S&P Global Ratings today assigned its ratings to Tobacco Settlement Financing Corp.'s (TSFC's) $3.147 billion tobacco settlement bonds series 2018 (see list).

The note issuance is an asset-backed securities (ABS) transaction backed by New Jersey's tobacco settlement revenues resulting from the MSA payments, fully funded senior and subordinate liquidity reserve accounts, and interest income.

The assigned ratings reflect: