Fitch: Kayne Anderson notes AAA, preferreds AA

Fitch Ratings said it assigned AAA ratings to the senior securities issued by Kayne Anderson Midstream/Energy Fund, Inc., including its $55 million 3.93% series A senior unsecured notes due March 3, 2016 and $60 million 4.62% series B senior unsecured notes due March 3, 2018, along with an AA rating to its $35 million 5.32% series A mandatory redeemable preferred shares due March 3, 2018.

The ratings were driven by the sufficient asset coverage relative to criteria, structural protections afforded by mandatory de-leveraging provisions in the event of asset coverage declines, the legal and regulatory parameters that govern the fund's operations and the capabilities of KA Fund Advisors, LLC as investment advisor, Fitch said.

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