Fitch Rates & Affirms Preferred Shares of Nuveen New York AMT-Free Municipal Income Fund on Merger
Mar 11, 2013
Fitch Ratings-New York-11 March 2013: Fitch Ratings assigns ratings to preferred shares issued by Nuveen New York AMT-Free Municipal Income Fund (NRK) in connection with the fund reorganizations described below. Fitch assigns 'AAA' long-term ratings and 'F1' short-term ratings to three series of Variable Rate Demand Preferred Shares (VRDP shares), 'AAA' long-term ratings and 'F1+' short-term ratings to one series of VRDP shares, and 'AAA' long-term ratings to one series of Variable Rate Muni-Fund Term Preferred Shares (VMTP shares). Fitch also affirms the 'AAA' rating assigned to one existing series of MTP shares of NRK in connection with the transactions described below. NRK is a municipal closed-end fund (CEF) managed by Nuveen Fund Advisors, LLC (NFA) and subadvised by Nuveen Asset Management, LLC (NAM).
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