Boulder Total Return Fund, Inc. Announces Rating Upgrades to 'AAA' on Its Taxable Auction Market Preferred Stock.
BOULDER, Colo. -- The Boulder Total Return Fund, Inc. (NYSE:BTF) is
pleased to announce that the Fund's taxable auction market
preferred stock ("AMPs") has received an upgrade in its rating
from Moody's Investors Services from 'Aa1' to
'Aaa' and in its rating from Standard & Poor's from
'AA' to 'AAA.' The Fund is currently leveraged with
$77.5 million of AMPs. Triple-A ratings assigned to the preferred shares
are based on an assessment that the market value of the underlying
assets of the portfolio is sufficient to provide the highest asset
protection to investors in the preferred stock. These assets serve to
collateralize the preferred shares, as well as the related dividend
obligations. To meet the triple-A rating guidelines by both agencies,
the Fund adheres to various eligibility and diversification limitations
that supplement regulatory requirements of the Investment Company Act of
1940, as amended (the "1940 Act"), mandating an asset coverage
ratio of 200% to cover the Fund's liabilities. Based on assets as
of July 30, 2006, the Fund maintained a 1940 Act asset coverage ratio of
430%.
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