Standard&Poor's Ratings Services expects Altria Group to continue to report satisfactory profitability, which in our opinion reflects the high-equity and pricing power of its key brands. We are raising all of the long-term ratings on the U.S.-based tobacco holding company, including the corporate credit rating to 'BBB+' from 'BBB', given the financial flexibility currently derived from the SABMiller stake, and based on our expectation that its key operating subsidiaries' will maintain solid market positions. The stable outlook reflects our forecast for credit ratios to remain near current levels, including leverage in the mid- to high-1x area, and continued high free cash flow, given its pricing power and operating efficiency. In addition, we believe shareholder payments will remain generally
