Fitch assigns Kayne Anderson preferreds AA

Fitch Ratings said it assigned an AA rating to the $120 million of 4.25% series E mandatory redeemable preferred shares issued by Kayne Anderson MLP Investment Co., a non-diversified closed-end fund managed by KA Fund Advisors, LLC.

The agency said the rating reflects sufficient asset coverage relative to Fitch's published criteria, the 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.

The preferreds closed March 14.

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