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What is the credit risk associated with these bonds

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Reference no: EM13513541

The four largest tobacco companies in the United States reached a settlement with 46 state attorneys general to pay a total of $206 billion over the following 25 years. Answer the below questions.

a. States and municipalities, New York City being the first, sold bonds backed by the future payments of the tobacco companies. What are these bonds called?

b. What is the credit risk associated with these bonds?

Reference no: EM13513541

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