Fitch Withdraws Rating on Pioneer Municipal and Equity Income Trust's Pfd Shares.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 -- 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. has withdrawn the 'AAA' ratings assigned to the series F7, T7 and TH28 of Auction Market Preferred Shares Preferred shares Preferred shares give investors a fixed dividend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. (AMPS) issued by Pioneer Municipal and Equity Income Trust, following the fund's Oct. 24, 2008 merger with Pioneer Tax Free Income Fund, a non-Fitch-rated open-end fund. Prior to the closing of the merger, all Fitch-rated AMPS were redeemed in full in accordance with the Investment Company Act of 1940. The redemptions occurred on the following dates: --2,350 shares of series F7 redeemed on Oct. 6, 2008; --2,350 shares of series T7 redeemed on Oct. 15, 2008; --2,350 shares of series TH28 redeemed on Oct. 24, 2008. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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