Bondholders Likely to Suffer From States' Tobacco-Funding Addiction.

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    • Abstract:
      The article reports that some states and three territories have resorted to using their share of a 200-billion-dollar tobacco settlement as collateral for 55-billion dollars worth of municipal bonds. Observers confirm that 19 U.S. states and the District of Columbia are placing investors of tobacco-settlement securities at risk as cigarette sales decline due to more health-conscious lifestyle choices of Americans.