Putnam Managed Municipal Income Trust Series A And C Ratings Lowered And Removed From CreditWatch

Putnam Managed Municipal Income Trust is a diversified, closed-end management investment company incorporated in the U.S. and governed by the 1940 Act. We lowered our ratings on the company's series A and C remarketed preferred shares to 'AA' from 'AAA' and removed the ratings from CreditWatch with negative implications. The rating actions reflect that the series A and C assets are currently insufficient to support the 'AAA' rating, based on our quantitative analysis using our Market Value Evaluator model. NEW YORK (S&P Global Ratings) July 25, 2023--S&P Global Ratings today lowered its ratings on Putnam Managed Municipal Income Trust's series A and C remarketed preferred shares to 'AA' from 'AAA'. The ratings were also removed from CreditWatch, where they were

...- Putnam Managed Municipal Income Trust is a diversified, closed-end management investment company incorporated in the U.S. and governed by the 1940 Act. - We lowered our ratings on the company's series A and C remarketed preferred shares to '##' from '###' and removed the ratings from CreditWatch with negative implications. - The rating actions reflect that the series A and C assets are currently insufficient to support the '###' rating, based on our quantitative analysis using our Market Value Evaluator model. NEW YORK (S&P Global Ratings) July 25, 2023--S&P Global Ratings today lowered its ratings on Putnam Managed Municipal Income Trust's series A and C remarketed preferred shares to '##' from '###'. The ratings were also removed from CreditWatch, where they were placed with negative implications on April 28, 2023 (see "Putnam Managed Municipal Income Trust Series A And C Ratings Placed On CreditWatch Negative"). Putnam Managed Municipal Income Trust is a diversified, closed-end management...

Ratings Action