Moody's gives Baa3 rating to S.C. tobacco settlement bonds

Moody's Investors Service said it assigned a provisional rating of Baa3 to the $298.26 million series 2008 bonds proposed to be issued by South Carolina's Tobacco Settlement Revenue Management Authority.

The structure includes tax-exempt, current interest turbo-term bonds due June 1, 2018. It will be the second bond issuance backed by South Carolina's share of the multi-state settlement with tobacco manufacturers.

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