BlackRock Advisors, LLC (“BlackRock”) announced today a new
investment policy for the Funds listed below. Each Fund may invest
up to 20% of its managed assets in securities that are rated below
investment grade, or are considered by BlackRock to be of
comparable quality, at the time of purchase, subject to such Fund’s
other investment policies. The adoption of the new policy will have
no effect on each Fund’s existing investment policy to invest
either primarily or at least 80% of its assets in investment grade
municipal bonds or obligations. In connection with the adoption of
the new policy, MQY’s and MQT’s investments in municipal bonds will
no longer be limited to the three highest quality rating
categories.
Ticker
Fund Name
BAF
BlackRock Municipal Income
Investment Quality Trust
BSE
BlackRock New York Municipal
Income Quality Trust
BYM
BlackRock Municipal Income
Quality Trust
MCA
BlackRock MuniYield California
Quality Fund, Inc.
MEN
BlackRock MuniEnhanced Fund,
Inc.
MHN
BlackRock MuniHoldings New York
Quality Fund, Inc.
MFL
BlackRock MuniHoldings Investment
Quality Fund
MFT
BlackRock MuniYield Investment
Quality Fund
MIY
BlackRock MuniYield Michigan
Quality Fund, Inc.
MPA
BlackRock MuniYield Pennsylvania
Quality Fund
MQT
BlackRock MuniYield Quality Fund
II, Inc.
MQY
BlackRock MuniYield Quality Fund,
Inc.
MUC
BlackRock MuniHoldings California
Quality Fund, Inc.
MUE
BlackRock MuniHoldings Quality
Fund II, Inc.
MUJ
BlackRock MuniHoldings New Jersey
Quality Fund, Inc.
MUS
BlackRock MuniHoldings Quality
Fund, Inc.
MYI
BlackRock MuniYield Quality Fund
III, Inc.
MYN
BlackRock MuniYield New York
Quality Fund, Inc.
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 June 30, 2019, the
firm managed approximately $6.842 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
Funds 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 Funds. This reference to BlackRock’s website
is intended to allow investors public access to information
regarding the Funds 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
Funds may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to ’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 Funds, 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 Funds or
in a Fund’s net asset value; (2) the relative and absolute
investment performance of a 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 a 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 Funds with the 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 Funds. The
information contained on BlackRock’s website is not a part of this
press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190731006055/en/
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