Tobacco Documents Online

"Two B.A.T. Affiliates Have Ratings Lowered" Wall Street Journal (07/'!2/94) P. C10 Standard & Poor's Ratings Group lowered the debt ratings for two entities related to B.A.T Industries PLC. S&P cut the ratings for B.A.T Capital Corp. and British-American Tobacco Investment to single-A-plus from double-A-minus, citing the more competitive nature of the U.S. tobacco market and the possibility of "an increasing number of restrictions" in the U.S. tobacco industry. If the proposed $1 billion acquisition of American Tobacco Co. from American Brands Inc. is completed, S&P stated, B.A.T's exposure to the U.S. tobacco business would increase significantly. S&P also said the long-term risk associated with the pending acquisition outweighs short-term cash-flow benefits. "S&P Affirms Dibrell Brothers Ratings" Reuters (07/1 1/94) Standard & Poor's Corp. has affirmed its B-plus subordinated debt rating of Dibrell Brothers Inc. and changed the outlook to stable from positive. S&P said the revised outlook reflects the firm's overall weakened operating position due to the oversupply of leaf tobacco, other near-term tobacco industry trends, and the continued weakness in its flower segment that limits improvement in profitability in the intermediate term. The rating reflects Dibrell's position as one of the leading independent leaf tobacco processors and a worldwide wholesale purchaser and seller of fresh cut flowers, according to S&P. "Standard Commercial Cut to 'Hold' by Prudential" Reuters (07/11/94) Prudential Securities said it downgraded tobacco processor Standard Commercial Corp. to "hold" from "buy." The brokerage confirmed that an analyst downgraded Dibrell Brothers Inc. to "sell" from "hold" and cut Monk-Austin inc. to "hold" from "buy." Standard Commercial shares were off .625 at 14.75, Dibrell dropped 1.125 to 13.875, and Monk-Austin lost.375 to 12.125. . "Unlucky Strikes" Washington Post--Health (07/12/94) P. 5 Twenty Major League Baseball parks have banned smoking in all seats and 16 refuse tobacco advertising. Some stadiums, like Chicago's Comiskey Park and the Milwaukee County Stadium, have smoke-free sections. Yankee and Shea stadiums in New York allow smoking, but a municipal anti-smoking ordinance may soon overrule n I