Fitch cuts two Eaton Vance funds

Fitch Ratings said it downgraded to A from AA the long-term ratings assigned to the auction preferred shares issued by Eaton Vance Senior Floating-Rate Trust and Eaton Vance Limited Duration Income Fund and removed them from rating watch negative.

The agency also removed the downgraded ratings from under criteria observation. The funds are managed by Eaton Vance Management.

“The long-term rating actions are driven by changes to Fitch's rating criteria for closed-end funds (CEFs) rather than by any fundamental changes to the funds' credit profiles,” Fitch said in a press release.

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