Moody's changes Altria outlook to stable

Moody's Investors Service said it changed the outlook to stable from negative and affirmed Altria Group Inc.'s A3 senior unsecured.

“The outlook change to stable reflects Altria's increased profitability from achievement of cost savings programs that have reduced annual costs by over $600 million in the last year. These initiatives commenced in early 2019 and, along with several price increases on cigarettes in 2019, the company has been successful in materially improving its operating performance,” said Moody’s in a press release.

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