Fitch Rates Eaton Vance Floating-Rate Income Trust Pfd Shares 'AAA'.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Eaton Vance Floating-Rate Income Trust's auction preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. 3,480 shares series A, 3,480 shares series B, 3,480 shares series C, 3,480 shares series D, and 3,480 shares series E are rated 'AAA' by Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. . The ratings are based on asset coverage and preferred share basic maintenance amount tests, as well as the quality and experience of the asset manager. Eaton Vance Floating-Rate Income Trust is a closed-end management investment company that invests primarily in a portfolio of senior bank loans. The Trust is registered under the Investment Company Act of 1940, which permits closed-end funds to borrow funds through the issuance of debt and preferred stock. Under the 1940 Act, closed-end funds may borrow up to 50% of the fund's value through preferred share issuance; Eaton Vance Floating-Rate Income Trust's current preferred share issuance equates to roughly 38% of its value. Eaton Vance Management, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Eaton Vance Corp., is the Fund's investment adviser. Through its subsidiaries, Eaton Vance Corp. is an adviser and distributor of investment companies, as well as other investment products for individual and institutional clients. As of April 30, 2004, Eaton Vance had assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of approximately $85 billion. |
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