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Prospect News home > News index > List of issuers B > Headlines for BlackRock MuniYield California Fund, Inc. > News item |
Fitch rates BlackRock preferreds AA
Fitch Ratings said it assigned AA long-term ratings to the following series of preferred shares issued by three BlackRock municipal closed-end funds: $287.1 million of series W-7 variable-rate demand preferred shares (VRDP shares) issued by BlackRock Municipal Income Fund, Inc. (MUI), $105.9 million of series W-7 variable rate muni term preferred shares (VMTP shares) issued by BlackRock MuniYield California Fund, Inc. (MYC); and $166.5 million of series W-7 variable rate muni term preferred shares (VMTP shares) issued by BlackRock MuniYield California Quality Fund, Inc. (MCA).
The preferred shares are issued in connection with the planned fund reorganizations. BlackRock MYC and MCA are expected to be reorganized into acquiring fund BlackRock MuniHoldings California Quality Fund (MUC).
BlackRock MuniHoldings Investment Quality Fund (MFL) is expected to be reorganized into acquiring fund MUI.
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