Moody’s eyes 12 fund preferreds for cut

Moody’s Investors Service said it placed on review for downgrade the Aa3 ratings assigned to preferred shares issued by the following 12 closed-end funds: Eaton Vance Floating-Rate Income Plus Fund, Eaton Vance Floating-Rate Income Trust, Eaton Vance Senior Floating-Rate Trust, Eaton Vance Senior Income Trust, Eaton Vance Limited Duration Income Fund, FS Global Credit Opportunities Fund, Invesco Senior Income Trust, Invesco Dynamic Credit Opportunities Fund, Nuveen Short Duration Credit Opportunities Fund, Nuveen Floating Rate Income Opportunity Fund, Nuveen Senior Income Fund and Nuveen Floating Rate Income Fund.

The review reflects the severe credit and market shocks the pandemic and falling oil prices have had on the bank loan market, Moody’s said.

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