...November 4, 2021 NEW YORK (S&P Global Ratings) Nov. 4, 2021--S&P Global Ratings today said it raised its fund credit quality ratings (FCQRs) and fund volatility ratings (FVRs) on four exchange-traded funds sponsored by BlackRock Inc. Specifically, we raised our ratings on the: - iShares iBonds 2022 Term High Yield and Income ETF (IBHB) to '##-f/##' from 'B+f/##', - iShares iBonds Dec 2022 Term Muni Bond ETF (IBMK) to '##+f/##+' from 'AAf/##', - iShares iBonds Dec 2022 Term Treasury ETF (IBTB) to 'AAAf/##+' from '##+f/##', and - iShares iBonds Dec 2022 Term Corporate ETF (IBDN) to 'Af/##+' from 'A-f/##'. We raised the ratings because all four of these exchange-traded funds (ETFs) are term funds that will terminate in 2022, and during the year of termination, as bonds mature, cash balances will increase through the remaining life of each ETF. As these term portfolios move toward their expiration dates, credit quality typically improves, as credit factors within our fund credit quality matrix,...
