BlackRock Announces Information Relating to Certain Investment Policies for BlackRock Credit Allocation Income Trust
February 07 2019 - 4:30PM
Business Wire
BlackRock Advisors, LLC (“BlackRock”) announced today certain
information regarding the investment policies for BlackRock Credit
Allocation Income Trust (NYSE:BTZ) (the "Fund"), including a change
to a non-fundamental investment policy. The policies as described
below are intended to provide greater flexibility for BTZ to
continue to invest in what BlackRock believes are the most
attractive credit opportunities.
Non-U.S. Securities. The Fund’s Board of Trustees has approved
changes to a non-fundamental investment policy of the Fund, as set
forth below. The change to the Fund’s non-fundamental investment
policy is expected to take effect on or about February 8, 2019.
Current Policy New Policy
Under normal market conditions, up to
35%of the Fund’s Managed Assets may beinvested in non-U.S.
securities, which mayinclude securities denominated in U.S.dollars
or in non-U.S. currencies ormultinational currency units.
Under normal market conditions, up to
50%of the Fund’s Managed Assets may beinvested in non-U.S.
securities, which mayinclude securities denominated in U.S.dollars
or in non-U.S. currencies ormultinational currency units.
Average Credit Quality. The Fund’s existing investment policies
permit it to invest, under normal market conditions, without
limitation in securities rated below investment grade at the time
of purchase. Notwithstanding this policy, the Fund has previously
disclosed that it was anticipated, under then-current market
conditions, that the Fund would have an anticipated average credit
quality of at least investment grade. BlackRock currently intends
to manage the Fund’s credit quality in accordance with its stated
investment policy, which means that at times the Fund’s average
credit quality may be at or below investment grade.
There are no changes to the Fund’s investment objective or to
other investment policies of the Fund.
About BlackRock
BlackRock helps investors build better financial futures. As a
fiduciary to investors and a leading provider of financial
technology, our clients turn to us for the solutions they need when
planning for their most important goals. As of December 31, 2018,
the firm managed approximately $5.98 trillion in assets on behalf
of investors worldwide. For additional information on BlackRock,
please visit www.blackrock.com | Twitter: @blackrock | Blog:
www.blackrockblog.com |LinkedIn:
www.linkedin.com/company/blackrock.
Availability of Fund Updates
BlackRock will update performance and certain other data for the
Fund on a monthly basis on its website in the “Closed-end Funds”
section of www.blackrock.com as well as certain other
material information as necessary from time to time. Investors and
others are advised to check the website for updated performance
information and the release of other material information about the
Fund. This reference to BlackRock’s website is intended to allow
investors public access to information regarding the Fund and does
not, and is not intended to, incorporate BlackRock’s website in
this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or the
Fund may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the Fund’s or BlackRock’s future financial or business
performance, strategies or expectations. Forward-looking statements
are typically identified by words or phrases such as “trend,”
“potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”
“expect,” “anticipate,” “current,” “intention,” “estimate,”
“position,” “assume,” “outlook,” “continue,” “remain,” “maintain,”
“sustain,” “seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
With respect to the Fund, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for the Fund or in
the Fund’s net asset value; (2) the relative and absolute
investment performance of the Fund and its investments; (3) the
impact of increased competition; (4) the unfavorable resolution of
any legal proceedings; (5) the extent and timing of any
distributions or share repurchases; (6) the impact, extent and
timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall
Street Reform and Consumer Protection Act, and regulatory,
supervisory or enforcement actions of government agencies relating
to the Fund or BlackRock, as applicable; (8) terrorist activities,
international hostilities and natural disasters, which may
adversely affect the general economy, domestic and local financial
and capital markets, specific industries or BlackRock; (9)
BlackRock’s ability to attract and retain highly talented
professionals; (10) the impact of BlackRock electing to provide
support to its products from time to time; and (11) the impact of
problems at other financial institutions or the failure or negative
performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of
the Fund with the Securities and Exchange Commission (“SEC”) are
accessible on the SEC's website at www.sec.gov and
on BlackRock’s website at www.blackrock.com , and
may discuss these or other factors that affect the Fund. The
information contained on BlackRock’s website is not a part of this
press release.
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