Altria Group (MO) Extends Credit Facility After A Run That Leaves Valuation In Debate

Altria Group (MO) has extended the expiration of its US$3.0b senior unsecured 5-year revolving credit facility by one year to October 24, 2030, while keeping all other terms unchanged. The credit facility extension comes at a time when Altria Group’s recent momentum has been strong, with a 1-month share price return of 8.0% and a year-to-date share price gain of 31.1%. This underpins a 1-year total shareholder return of 24.5% and a very large 5-year total shareholder return of around 2.3x,...