Announcement of Periodic Review: Moody’s announces completion of a periodic review of ratings of Nuveen Floating Rate Income Chance Fund
World Credit history Investigation – 22 Jan 2021
New York, January 22, 2021 — Moody’s Buyers Service (“Moody’s”) has completed a periodic overview of the ratings of Nuveen Floating Price Revenue Opportunity Fund and other ratings that are linked with the similar analytical device. The evaluation was carried out as a result of a portfolio overview dialogue held on 13 January 2021 in which Moody’s reassessed the appropriateness of the rankings in the context of the pertinent principal methodology(ies), current developments, and a comparison of the financial and operating profile to similarly rated peers. The evaluation did not contain a ranking committee. Considering the fact that 1 January 2019, Moody’s observe has been to issue a press launch adhering to just about every periodic evaluation to announce its completion.
This publication does not announce a credit rating rating motion and is not an sign of no matter if or not a credit history score action is likely in the in close proximity to potential. Credit rating ratings and outlook/overview position simply cannot be changed in a portfolio evaluate and that’s why are not impacted by this announcement. For any credit history scores referenced in this publication, you should see the ratings tab on the issuer/entity webpage on www.moodys.com for the most current credit score motion facts and score historical past.
Vital score issues are summarized underneath.
Nuveen Floating Level Earnings Prospect Fund’s (NYSE: JRO) Aa3 score displays the fund’s superb chance-altered asset protection ratio and incredibly sturdy potential to provider leverage costs from recurring expense profits. At 30 November 2020, the fund’s risk modified asset protection stood at the Aaa ranking stage and its yearly set charge coverage was also at the Aaa score degree. As a senior loan CEF, the average liquidity profile of its portfolio is rather offset by the decrease credit rating good quality of these kinds of holdings.
This document summarizes Moody’s watch as of the publication date and will not be updated until the next periodic critique announcement, which will integrate material variations in credit score situation (if any) for the duration of the intervening period.
The principal methodology made use of for this review was Closed-Conclude Cash Methodology revealed in December 2020. Be sure to see the Rating Methodologies web site on www.moodys.com for a copy of this methodology.
This announcement applies only to EU rated, Uk rated, EU endorsed and British isles endorsed rankings. Non EU rated, non British isles rated, non EU endorsed and non British isles endorsed scores may possibly be referenced over to the extent necessary, if they are part of the exact analytical device.
This publication does not announce a credit score rating action. For any credit score scores referenced in this publication, please see the ratings tab on the issuer/entity web page on www.moodys.com for the most updated credit rating action data and rating history.
Stefan Kahandaliyanage, CFA Asst Vice President - Analyst Fiscal Establishments Group Moody's Traders Service, Inc. 250 Greenwich Avenue New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Customer Provider: 1 212 553 1653 Robert M. Callagy Associate Handling Director Monetary Establishments Team JOURNALISTS: 1 212 553 0376 Consumer Support: 1 212 553 1653 Releasing Workplace: Moody's Traders Company, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Consumer Provider: 1 212 553 1653
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