The Impact of the Proposed Menthol Ban on Municipal Tobacco Bonds In the 1920s, a person named Lloyd “Spud” Hughes came up with a novel idea of adding menthol flavoring to cigarettes in order to give the illusion of a “cooler” smoke. This would spur the development of the menthol cigarette in the United States. Over the years, it would become the mainstay for a large portion of the smoking population. The era on menthol cigarettes, however, could be coming to an end. Last Friday the Wall Street Journal reported that the US Food and Drug Administration (FDA) was pursuing

The recent downgrade in the ratings by Moody’s (Aa3 to A1), Standard & Poor’s (AA to A+) and Fitch (AA- to A+) of the tax-supported debt, appropriations debt and other debt supported by state guarantees reflect Connecticut’s ongoing and increasing structural budgetary deficits. The state continues to struggle from weak job growth and population outmigration. What’s more, it has yet to adopt its budget for the new fiscal year (due July 1, 2017) and is currently operating under executive order. Read this whitepaper to discover what factors have contributed to Connecticut’s current situation. Find out why thousands of investors rely