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Bulletin: Lorillard Inc. TPSAC Recommendation On Menthol Cigarettes Will Not Affect Ratings, Outlook
Standard & Poors, March 2011
Abstract
NEW YORK (Standard & Poor's) March 21, 2011--Standard & Poor's Ratings Services said today that the Tobacco Products Scientific Advisory Committee's (TPSAC) recommendation to the Food & Drug Administration (FDA) had no immediate rating impact on Lorillard Inc. (BBB-/Negative/--; parent company of Lorillard Tobacco Co.). TPSAC issued its nonbinding recommendation late last week, expressing a view that 'Menthol cigarettes have an adverse impact on public health in the United States' and the removal of menthol cigarettes could 'benefit public health in the U.S.' However, TPSAC also recommended the FDA to conduct further research and consider contraband and 'black market' activity. While we continue to believe that a ban on menthol cigarettes is unlikely, we still cannot entirely rule out such
Article Type:NEWS,BULLETIN
Companies mentioned in this report are: Lorillard Inc.
Action: Bulletin
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