Common use of Credit Quality Clause in Contracts

Credit Quality. The Issuer (i) will invest at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by Xxxxx'x or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) may invest up to 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by Xxxxx'x or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. The As of the Amendment and Restatement Date, the Issuer (i) will invest has invested at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by Xxxxx'x or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) may invest up to has invested no more than 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by Xxxxx'x or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. The As of the Amendment and Restatement Date, the Issuer (i) will invest has invested at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by Xxxxx'x Mxxxx'x or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) may invest up to has invested no more than 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by Xxxxx'x Mxxxx'x or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. The Issuer (i) will invest at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by Xxxxx'x Mxxxx'x or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) may invest up to 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by Xxxxx'x Mxxxx'x or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. The As of the Effective Date, the Issuer (i1) will invest has invested at least 7080% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by Xxxxx'x Xxxxx’x or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii2) may invest has invested up to 3020% of its Managed Assets in municipal securities that that, at the time of investment investment, were rated below investment grade (rated Ba1 or lower by Xxxxx'x Xxxxx’x or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. The As of the Effective Date, the Issuer (i1) will invest has invested at least 7080% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by Xxxxx'x or Mooxx’x xx BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii2) may invest has invested up to 3020% of its Managed Assets in municipal securities that that, at the time of investment investment, were rated below investment grade (rated Ba1 or lower by Xxxxx'x or Mooxx’x xx BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. The Issuer (i) will invest at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by Xxxxx'x Xxxxx’x or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) may invest up to 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by Xxxxx'x Xxxxx’x or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.

Credit Quality. The As of the Amendment and Restatement Date, the Issuer (i) will invest has invested at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by Xxxxx'x Xxxxx’x or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) may invest up to has invested no more than 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by Xxxxx'x Xxxxx’x or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.