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Nuveen Intermediate Duration Municipal Term Fund (NID)

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14.91-0.02 (-0.13%)
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  • Moody's

    Nuveen Intermediate Duration Municipal Term Fund -- Moody's assigns Aa2 rating to preferred shares issued by Nuveen Intermediate Duration Municipal Term Fund

    Rating Action: Moody's assigns Aa2 rating to preferred shares issued by Nuveen Intermediate Duration Municipal Term FundGlobal Credit Research - 12 Feb 2021New York, February 12, 2021 -- Moody's Investors Service, ("Moody's") has assigned a Aa2 long-term rating to Series 2023 Adjustable Rate MuniFund Term Preferred (AMTP) shares issued by Nuveen Intermediate Duration Municipal Term Fund (ticker: NID), a closed-end fund registered under the Investment Company Act of 1940 with approximately $1.1 billion of assets under management.NID's primary investment objective is to provide a high level of current income exempt from regular U.S. federal income tax. The fund seeks to achieve its investment objectives by investing in intermediate duration municipal securities of investment grade and below investment grade issuers.A summary of the rating action follows:Nuveen Intermediate Duration Municipal Term Fund (NID) -- 2023 AMTP Shares aggregate outstanding of $175.0 million (1750 shares, liquidation preference of $100,000 per share) -- assigned Aa2RATINGS RATIONALENID's Aa2 rating reflects the fund's solid risk-adjusted asset coverage ratio which combined with the low probability of breaching regulatory coverage requirements provides preferred shareholders with significant protection from asset deterioration.

  • Moody's

    Moody's assigns Aa2 rating to preferred shares issued by Nuveen Intermediate Duration Municipal Term Fund

    Rating Action: Moody's assigns Aa2 rating to preferred shares issued by Nuveen Intermediate Duration Municipal Term FundGlobal Credit Research - 12 Feb 2021New York, February 12, 2021 -- Moody's Investors Service, ("Moody's") has assigned a Aa2 long-term rating to Series 2023 Adjustable Rate MuniFund Term Preferred (AMTP) shares issued by Nuveen Intermediate Duration Municipal Term Fund (ticker: NID), a closed-end fund registered under the Investment Company Act of 1940 with approximately $1.1 billion of assets under management.NID's primary investment objective is to provide a high level of current income exempt from regular U.S. federal income tax. The fund seeks to achieve its investment objectives by investing in intermediate duration municipal securities of investment grade and below investment grade issuers.A summary of the rating action follows:Nuveen Intermediate Duration Municipal Term Fund (NID) -- 2023 AMTP Shares aggregate outstanding of $175.0 million (1750 shares, liquidation preference of $100,000 per share) -- assigned Aa2RATINGS RATIONALENID's Aa2 rating reflects the fund's solid risk-adjusted asset coverage ratio which combined with the low probability of breaching regulatory coverage requirements provides preferred shareholders with significant protection from asset deterioration.