Fitch to Rate Eaton Vance Limited Duration Income Fund $100MM LPP Shares (Business Wire)

NEW YORK--(BUSINESS WIRE)--Fitch Ratings expects to assign an 'AAA/F1+' rating to the $100 million (4,000 shares at $25,000 per share) liquidity protected preferred (LPP) shares issued by Eaton Vance Limited Duration Income Fund. The LPP shares, structured to be 2a7 eligible, will entitle the holders to receive cash dividends from the fund at a rate as determined at a weekly remarketing. The LPP shares' expected long-term rating addresses the likelihood of full and timely payment of dividends on the next remarketing date and principal upon optional or mandatory redemption and is based on the following: --Evaluation of the fund's portfolio assets as an underlying collateral with the focus on market value loss under the stress scenario. --The fund's capital structure and sufficiency of asset coverage according to seniority of... [read full story]