Moody's assigns Gabelli preferreds A1

Moody's Investors Service said it assigned an A1 rating to the series M preferred shares to be issued by the Gabelli Equity Trust Inc. in a private placement. Concurrently, Moody's affirmed the A1 ratings on the trust's outstanding preferred shares.

The proceeds are expected to be used for general corporate purposes, which may include the full or partial redemption of one or more series of preferred shares and for investment purposes.

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