BlackRock Municipal 2030 Target Term Trust -- Moody's downgrades BTT's preferred shares to Aa2
BlackRock Municipal 2030 Target Term Trust -- Moody's downgrades BTT's preferred shares to Aa2
Moody's Investors Service ("Moody's") has downgraded to Aa2 from Aa1 the long-term ratings on the Remarketable Variable Rate Muni Term Preferred (RVMTP) shares issued by BlackRock Municipal 2030 Target Term Trust (BTT). The downgrade of BTT's preferred share ratings was driven by a steady decline in the fund's fixed charge coverage. At 31 October, BTT's annual fixed charge coverage stood at three times net investment income compared to four times for the same period a year ago.
Moody's Investors Service ("Moody's") has downgraded to Aa2 from Aa1 the long-term ratings on the Remarketable Variable Rate Muni Term Preferred (RVMTP) shares issued by BlackRock Municipal 2030 Target Term Trust (BTT). The downgrade of BTT's preferred share ratings was driven by a steady decline in the fund's fixed charge coverage. At 31 October, BTT's annual fixed charge coverage stood at three times net investment income compared to four times for the same period a year ago.
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