PRESS DIGEST - Wall Street Journal - May 26
May 26 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
Dec 21 Standard & Poor's Ratings Services on Friday said it is monitoring terms agreed by U.S. cigarette makers and 17 states, the District of Columbia, and Puerto Rico meant to resolve a high-stakes dispute over payments from landmark 1998 litigation.
"This term sheet agreement ... could affect the U.S. tobacco settlement-backed securitizations that Standard & Poor's rates," said the Wall Street agency, which rates 267 tranches in 50 tobacco securitizations.
The settlement announced on Tuesday gives states a share of $4 billion in disputed payments currently held in escrow. The manufacturers will receive credits against future payments.
* Bullard warns on inflation, cautious on aggressive rate hikes
BEIJING, May 26 China's structural reforms will not be enough to arrest its rising debt, and another credit rating downgrade for the country is possible unless it gets its ballooning credit in check, two officials at Moody's ratings agency said on Friday.