Standard & Poor's Initiates Factual Stock Report Coverage on Western Asset Investment Grade Defined Opportunity Trust Inc.
14 Octobre 2009 - 2:00PM
Business Wire
Standard & Poor’s announced today that it has commenced
Factual Stock Report coverage on Western Asset Investment Grade
Defined Opportunity Trust Inc.
Western Asset Investment Grade Defined Opportunity Trust Inc
(NYSE:IGI) is a non-diversified, closed-end management investment
company. IGI seeks to provide current income and then to liquidate
and distribute substantially all of their net assets to
stockholders on or about December 2, 2024. As a secondary
objective, the fund seeks capital appreciation. Under normal market
conditions, the fund invests at least 80% of its net assets in
investment grade corporate fixed-income securities of varying
maturities. While the fund may invest up to 20% of its net assets
in below investment grade securities, the portfolio's average
overall credit quality will be investment grade.
Legg Mason Partners Fund Advisor, LLC ("LMPFA"), the fund's
investment manager, will be responsible for administrative and
management services to the fund. The manager will receive an annual
fee, payable monthly, in an amount equal to 0.65% of the fund's
average daily net assets. As of June 30, 2009, LMPFA's total assets
under management were approximately $173.0 billion. Western Asset
Management Company, the fund's subadviser, will be responsible for
the day-to-day portfolio management of the fund subject to the
supervision of the fund's Board of Directors and LMPFA. As of June
30, 2009, Western Asset and its supervised affiliates had
approximately $483.7 billion in assets under management.
This report will also be accessible on an ongoing basis to the
investment community ---- scores of buy-side institutions and
sell-side firms that utilize S&P research and information
platforms daily. Millions of self-directed investors also have
access to the report via their e-brokerage accounts.
About Standard & Poor's Factual Stock Reports
This Standard & Poor’s service provides factual research
coverage enabling information about Western Asset Investment Grade
Defined Opportunity Trust Inc. and other securities to reach a wide
investor audience of Buy and Sell-side investors, helping them
understand a company’s fundamentals and business prospects.
Currently profiling over 800 issuers, S&P Factual Stock Reports
increase market awareness for issuers in the investment community
with insightful commentary and key statistics/information. Updated
weekly with the latest pricing, trading volume, and other data, the
reports include recent developments, a financial review, key
operating information, Industry and peer comparisons, institutional
holdings analysis, Street Consensus and opinions, performance
charts, business summary, fundamental data, and news. Because
coverage of these reports is sponsored by the issuer, S&P does
not offer investment opinions concerning the advisability of
investing in these stocks.
Standard & Poor’s Factual Stock Reports are produced
separately from any other analytic activity of Standard &
Poor’s. Standard & Poor’s Factual Report research has no access
to non-public information received by other units of Standard &
Poor’s. Standard & Poor’s does not trade on its own
account.
Note: All U.S. and Canadian Companies listed on a National
Exchange (not covered by S&P’s STARS research) are eligible to
obtain this coverage.
About Standard & Poor's
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(NYSE: MHP), is the world's foremost provider of financial market
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