New York, February 03, 2014 -- Moody's today said that Altria Group Inc.'s ("Altria") announcement today that its Nu Mark subsidiary is acquiring e-cigarette company Green Smoke, Inc. ("Green Smoke") for approximately $110 million is a modest credit positive as it will boost Altria's presence in the fast-growing, if nascent, e-cigarette category. The acquisition is Nu Mark's second move into e-cigarettes and follows the limited launch of its e-cigarette brand MarkTen in Indiana and Arizona in 2013. Despite the uncertainty surrounding the regulatory landscape for e-cigarettes, establishing meaningful brand presence while the category is still in its early stages will be important for Altria, particularly if e-cigarettes become a large enough category to offset volume declines in traditional tobacco cigarettes.

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