Michigan Plots $400 Mln Tobacco Securitization

01 Jun 2007

Michigan is planning a roughly $400 million securitization of its tobacco settlement revenues.

--Catherine Cunningham

Michigan is planning a roughly $400 million securitization of its tobacco settlement revenues. State officials reached an agreement yesterday to securitize another chunk of its TSRs in order to fill a hole in the budget, said Terry Stanton, spokesman for Treasurer Robert Kleine. “The deal will ...

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