...The following exposure draft is intended to update and replace the existing closed end fund debt and preferred stock rating criteria report entitled, "ClosedEnd Fund Debt and Preferred Stock Rating Criteria", published on 3 March 2006. Prior to implementation of the proposed criteria changes, Fitch Ratings is undertaking a 30 day comment period, during which the agency is soliciting feedback from market participants regarding the changes proposed under this exposure draft. Feedback can be emailed to cef.feedback@fitchratings.com. This exposure draft follows a firmwide initiative to update Fitch's methodology for related market value structures in recognition of heightened market volatility and asset correlation (as noted in an earlier press release, "Fitch Reviews ClosedEnd Fund Criteria", published on 3 September 2008, and a report entitled, "Rating Market Value Structures", published 18 April 2008, both available on www.fitchratings.com). This proposed criteria addresses US leveraged...
