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 investment company incorporated in the U.S. and governed by the 1940 Act. We placed our 'AAA' rating on the series A and C remarketed preferred stock on CreditWatch negative. The CreditWatch placement reflects our views that the assets are insufficient to support the 'AAA' ratings. NEW YORK (S&P Global Ratings) April 28, 2023--S&P Global Ratings today placed its 'AAA' rating on Putnam Managed Municipal Income Trust's series A and C remarketed preferred stock on CreditWatch with negative implications. Today's CreditWatch placement reflects that the assets are currently insufficient, given their current characteristics and corresponding haircuts, to support the current rating on the series A and C shares, as determined by

...- 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 placed our '###' rating on the series A and C remarketed preferred stock on CreditWatch negative. - The CreditWatch placement reflects our views that the assets are insufficient to support the '###' ratings. NEW YORK (S&P Global Ratings) April 28, 2023--S&P Global Ratings today placed its '###' rating on Putnam Managed Municipal Income Trust's series A and C remarketed preferred stock on CreditWatch with negative implications. Today's CreditWatch placement reflects that the assets are currently insufficient, given their current characteristics and corresponding haircuts, to support the current rating on the series A and C shares, as determined by our market value criteria (see "Methodology And Assumptions For Market Value Securities," published Sept. 17, 2013). Putnam Managed Municipal Income Trust is a diversified, closed-end management...

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