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Moody’s rates Nuveen preferreds A1
Moody's Investors Service said it assigned an A1 long-term rating to preferred shares that will be issued by Nuveen Preferred & Income Opportunities Fund (NYSE: JPC).
Nuveen plans to offer $150 million of the taxable shares with a $1,000 per share liquidation preference.
“The A1 preferred share rating reflects JPC's strong risk-adjusted asset coverage and capital structure, excellent capacity to service periodic payments, and concentrated exposure to the financial services sector,” Moody’s said in a press release.
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