Philip Morris Capital Corporation (PMCC) is a wholly owned subsidiary of Altria Group, Inc. (Altria). The company’s portfolio consists primarily of leveraged leases to predominantly investment grade credits.
PMCC was formed in 1982. Over its history, the company built a diversified portfolio by providing the equity portion of leveraged lease financings in assets such as aircraft, manufacturing facilities, power generation assets, rail cars and real estate.
In 2003, PMCC ceased making new investments and began focusing exclusively on managing its existing portfolio in order to maximize gains and generate cash flow from asset sales and related activities.