Moody’s gives Nuveen preferreds Aa3

Moody's Investors Service said it assigned an Aa3 rating to the new series B munifund preferred shares issued by Nuveen Enhanced High Yield Municipal Bond Fund (HYIF). Concurrently, Moody's affirmed the Aa3 rating assigned to the existing series A munifund preferred shares issued by HYIF.

Nuveen will use the proceeds of about $35 million are expected to be used for general fund purposes and to manage the fund's effective leverage to internal target ranges.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.