Standard&Poor's debt ratings of tobacco companies with U.S. litigation exposure, including Philip Morris Companies Inc., RJR Nabisco Holdings Corp., Loews Corp. (parent of Lorillard Tobacco Co.), and B.A.T. Industries PLC, remain on CreditWatch with negative implications, where they were placed April 17, 1997 as a result of heightened litigation risk and the potential costs of an industry settlement. The ratings of B.A.T Industries' insurance-related operations, including Eagle Star Insurance Co. Ltd., Eagle Star Life Assurance Co. Ltd., Farmers Insurance Exchange Intercompany Pool, and Farmers Group Inc. also remain on CreditWatch with negative implications. The ratings outlook for Nabisco remains negative, with no rating impact at this time. The ratings of CNA Financial Corp. and related entities continue to
