Fitch Affirms 'AAA' Preferred Stock Rating of 4 PIMCO Corporate Closed-End Funds
05 FEB 2019 04:12 PM ET
Fitch Ratings-New York-05 February 2019: Fitch Ratings has affirmed the 'AAA' ratings assigned to the auction-rate preferred shares (ARPS) issued by the following four closed-end funds managed by Pacific Investment Management Company LLC (PIMCO):
PIMCO High Income Fund (NYSE: PHK), total $101,975,000 in ARPS:
--$17,200,000 of series M perpetual ARPS, $25,000 per share, 688 shares;
--$23,950,000 of series T perpetual ARPS, $25,000 per share, 958 shares;
--$18,450,000 of series W perpetual ARPS, $25,000 per share, 738 shares;
--$18,925,000 of series TH perpetual ARPS, $25,000 per share, 757 shares;
--$23,450,000 of series F perpetual ARPS, $25,000 per share, 938 shares.
PIMCO Corporate & Income Strategy Fund (NYSE: PCN), total $55,525,000 ARPS:
--$10,150,000 of series M perpetual ARPS, $25,000 per share, 406 shares;
--$11,225,000 of series T perpetual ARPS, $25,000 per share, 449 shares;
--$11,825,000 of series W perpetual ARPS, $25,000 per share, 473 shares;
--$10,850,000 of series TH perpetual ARPS, $25,000 per share, 434 shares;
--$11,475,000 of series F perpetual ARPS, $25,000 per share, 459 shares.
PIMCO Income Strategy Fund (NYSE: PFL), total $51,275,000 ARPS:
--$19,150,000 of series T perpetual ARPS, $25,000 per share, 766 shares;
--$17,475,000 of series W perpetual ARPS, $25,000 per share, 699 shares;
--$14,650,000 of series TH perpetual ARPS, $25,000 per share, 586 shares.
PIMCO Income Strategy Fund II (NYSE: PFN), total $92,450,000 ARPS:
--$18,025,000 of series M perpetual ARPS, $25,000 per share, 721 shares;
--$22,025,000 of series T perpetual ARPS, $25,000 per share, 881 shares;
--$16,775,000 of series W perpetual ARPS, $25,000 per share, 671 shares;
--$18,825,000 of series TH perpetual ARPS, $25,000 per share, 753 shares;
--$16,800,000 of series F perpetual ARPS, $25,000 per share, 672 shares.