BPP Blackrock Credit Allocation Income Trust Iii

000 A000000 04/30/2011
000 C000000 0001213169
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 BLK CREDIT ALLOCATION INCOME TRUST III
001 B000000 811-21280
001 C000000 8004417762
002 A000000 100 BELLEVUE PARKWAY
002 B000000 WILMINGTON
002 C000000 DE
002 D010000 19809
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 BLACKROCK ADVISORS, LLC
008 B000001 A
008 C000001 801-47710
008 D010001 WILMINGTON
008 D020001 DE
008 D030001 19809
008 A000002 BLACKROCK FINANCIAL MANAGEMENT, INC.
008 B000002 S
008 C000002 801-48433
008 D010002 NEW YORK
008 D020002 NY
008 D030002 10022
012 A000001 COMPUTERSHARE TRUST COMPANY, N.A. (COMMON)
012 B000001 85-11340
012 C010001 CANTON
012 C020001 MA
012 C030001 02021
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 PRINCETON

013 B020001 NJ
013 B030001 08540
014 A000001 BLACKROCK CAPITAL MARKETS, LLC
014 B000001 8-67827
014 A000002 BLACKROCK EXECUTION SERVICES
014 B000002 8-48719
014 A000003 BLACKROCK FUND DISTRIBUTION COMPANY
014 B000003 8-67795
014 A000004 BLACKROCK INVESTMENTS, LLC
014 B000004 8-48436
014 A000005 HARRIS WILLIAMS LLC
014 B000005 8-53380
014 A000006 PNC CAPITAL MARKETS, INC.
014 B000006 8-32493
014 A000007 PNC INVESTMENTS LLC
014 B000007 8-66195
015 A000001 STATE STREET BANK AND TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02111
015 E010001 X
015 A000002 THE BANK OF NEW YORK MELLON
015 B000002 S
015 C010002 NEW YORK
015 C020002 NY
015 C030002 10286
015 E010002 X
015 A000003 J.P. MORGAN CHASE BANK
015 B000003 S
015 C010003 NEW YORK
015 C020003 NY
015 C030003 10017
015 E010003 X
018 000000 Y
019 A000000 Y
019 B000000 294
019 C000000 BLKRKADVSR
020 A000001 BANC OF AMERICA SECURITIES LLC
020 B000001 56-2058405
020 C000001 1
020 A000002 CITIGROUP GLOBAL MARKETS, INC.
020 B000002 11-2418191
020 C000002 0
020 A000003 JANNEY MONTGOMERY SCOTT LLC
020 B000003 23-0731260
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0

020 C000008 0
020 C000009 0
020 C000010 0
021 000000 1
022 A000001 BLK LIQUIDITY FUNDS, TEMPFUND, INSTIT. CLASS
022 B000001 52-0983343
022 C000001 45682
022 D000001 79323
022 A000002 CREDIT SUISSE SECURITIES (USA) L.L.C.
022 B000002 13-5659485
022 C000002 9919
022 D000002 19028
022 A000003 CITIGROUP GLOBAL MARKETS, INC.
022 B000003 11-2418191
022 C000003 16701
022 D000003 10469
022 A000004 MORGAN STANLEY & CO. INCORPORATED
022 B000004 13-2655998
022 C000004 9405
022 D000004 13227
022 A000005 J.P. MORGAN SECURITIES INC.
022 B000005 13-3299429
022 C000005 14779
022 D000005 7162
022 A000006 GOLDMAN, SACHS & CO.
022 B000006 13-5108880
022 C000006 11040
022 D000006 507
022 A000007 DEUTSCHE BANK SECURITIES INC.
022 B000007 13-2730828
022 C000007 9064
022 D000007 2012
022 A000008 BANC OF AMERICA SECURITIES LLC
022 B000008 56-2058405
022 C000008 5973
022 D000008 2639
022 A000009 BOE SECURITIES INC.
022 C000009 4343
022 D000009 3770
022 A000010 HSBC SECURITIES (USA) INC.
022 C000010 3354
022 D000010 3478
023 C000000 144577
023 D000000 158650
024 000000 Y
025 A000001 JPMORGAN CHASE CAPITAL XXI
025 C000001 D
025 D000001 6108
025 A000002 JPMORGAN CHASE CAPITAL XXIII
025 C000002 D
025 D000002 5204

025 A000003 BANK OF AMERICA CORP.
025 C000003 D
025 D000003 2462
025 A000004 THE GOLDMAN SACHS GROUP, INC.
025 C000004 D
025 D000004 2206
025 A000005 CITIGROUP, INC.
025 C000005 D
025 D000005 503
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 N
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.650
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N

052 000000 N
053 A000000 Y
053 B000000 Y
053 C000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 N
060 B000000 N
061 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 -0.3
062 L000000 0.7
062 M000000 1.0
062 N000000 0.0
062 O000000 0.0
062 P000000 93.4
062 Q000000 22.8
062 R000000 2.8
063 A000000 0
063 B000000 22.7
064 A000000 N
064 B000000 Y
065 000000 N
066 A000000 N

067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 Y
070 E010000 Y
070 E020000 Y
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 98354
071 B000000 84682
071 C000000 262224
071 D000000 32
072 A000000 6
072 B000000 7226
072 C000000 18
072 D000000 0
072 E000000 7
072 F000000 879
072 G000000 27

072 H000000 0
072 I000000 6
072 J000000 11
072 K000000 0
072 L000000 35
072 M000000 14
072 N000000 5
072 O000000 0
072 P000000 56
072 Q000000 0
072 R000000 27
072 S000000 16
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 28
072 X000000 1104
072 Y000000 3
072 Z000000 6150
072AA000000 892
072BB000000 0
072CC010000 1005
072CC020000 0
072DD010000 6214
072DD020000 0
072EE000000 0
073 A010000 0.3365
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 340
074 B000000 0
074 C000000 0
074 D000000 270633
074 E000000 6609
074 F000000 0
074 G000000 144
074 H000000 0
074 I000000 1610
074 J000000 2122
074 K000000 0
074 L000000 4422
074 M000000 227
074 N000000 286107
074 O000000 181
074 P000000 154
074 Q000000 0
074 R010000 53379
074 R020000 0
074 R030000 893
074 R040000 592

074 S000000 0
074 T000000 230908
074 U010000 18468
074 U020000 0
074 V010000 12.50
074 V020000 0.00
074 W000000 0.0000
074 X000000 17225
074 Y000000 47495
075 A000000 0
075 B000000 239116
076 000000 10.74
077 A000000 Y
077 O000000 Y
078 000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 3
086 D020000 70425
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON STOCK
087 A020000 09249V103
087 A030000 BPP
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 Y
SIGNATURE NEAL J. ANDREWS
TITLE CFO