Fitch cuts BlackRock closed-end fund

Fitch Ratings said it downgraded to AA from AAA the long-term ratings of the $347.8 million of series W-7 variable rate muni term preferred shares issued by municipal closed-end fund Blackrock Muniholdings Fund, Inc.

The agency also removed the rating from under criteria observation as a result of this rating action.

“The downgrade is driven by changes to Fitch's rating criteria for CEFs, rather than by any fundamental changes to the fund's credit profile,” the agency said in a press release.

© 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.