Rating Actions Taken On 11 BlackRock Fund Advisors Exchange-Traded Funds

NEW YORK (Standard&Poor's) Oct. 17, 2014--Standard&Poor's Ratings Services today said it raised its fund credit quality ratings on nine BlackRock Fund Advisors (BFA) funds and lowered its fund credit quality ratings on two other funds. In addition, we raised our fund volatility ratings on two BFA funds (see the Ratings List below). We raised the ratings on the iShares Emerging Markets Corporate Bond ETF because of the fund's decreased aggregate exposures to 'CCC/CC' rated issues. We raised the fund credit quality rating on the iShares Emerging Markets Local Currency Bond ETF as a result of lower rated countries falling out of the eligible investment list for the fund. We raised the fund credit quality rating on

...NEW YORK (Standard & Poor's) Oct. 17, 2014--Standard & Poor's Ratings Services today said it raised its fund credit quality ratings on nine BlackRock Fund Advisors (BFA) funds and lowered its fund credit quality ratings on two other funds. In addition, we raised our fund volatility ratings on two BFA funds (see the Ratings List below). We raised the ratings on the iShares Emerging Markets Corporate Bond ETF because of the fund's decreased aggregate exposures to '###/##' rated issues. We raised the fund credit quality rating on the iShares Emerging Markets Local Currency Bond ETF as a result of lower rated countries falling out of the eligible investment list for the fund. We raised the fund credit quality rating on the iShares Global High Yield Corporate Bond ETF because the fund has continued to represent the high-yield market trend of somewhat higher ratings and less '##' exposure. We raised our fund credit quality ratings on five BFA municipal funds because of a change in the funds'...

Ratings Action