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This downward trend reflects the positive impact of regulations such as 100% smoke-free environments and graphic health warnings on tobacco packaging, as well as growing awareness of the harmful effects of tobacco on health, the economy, and the environment
At the same time, alcohol is completely legal for adults 21 and over
On the S&P rating scale, issues rated BBB or above are generally considered to be investment-grade, while those rated lower than BBB are generally considered to be below investment-grade
The average illicit trade in 2025 is 10.6%, up from an average of 9% in 2024
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