Standard & Poor's Initiates Factual Stock Report Coverage on Western Asset Municipal Defined Opportunity Trust Inc.
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NEW YORK--(Business Wire)--
Standard & Poor`s announced today that it has commenced Factual Stock Report
coverage on Western Asset Municipal Defined Opportunity Trust Inc.
Western Asset Municipal Defined Opportunity Trust Inc. (NYSE:MTT) is a
non-diversified, closed-end management investment company that primarily invests
in investment grade municipal securities. The fund's primary investment
objective is to provide high current income exempt from federal income tax and
then to liquidate on or about April 30, 2021 and distribute all of the fund's
net assets to shareholders. As a secondary investment objective, the fund will
seek total return.
As a fundamental policy, the fund seeks to achieve its primary investment
objective by investing, under normal market conditions, at least 80% of its net
assets in investment grade municipal securities, the interest on which is exempt
from federal income tax.
Legg Mason Partners Fund Advisor, LLC ("LMPFA"), the fund's investment manager,
will be responsible for administrative and management services to the fund. As
of March 31, 2009, the manager's total assets under management were
approximately $169.0 billion. Western Asset Management Company, the fund's
subadviser, will be responsible for the day-to-day portfolio management of the
fund subject to the supervision of the fund's Board of Directors and the
manager. As of March 31, 2008, the subadviser and its supervised affiliates had
approximately $472.3 billion in assets under management.
This report will also be accessible on an ongoing basis to the investment
community ---- scores of buy-side institutions and sell-side firms that utilize
S&P research and information platforms daily. Millions of self-directed
investors also have access to the report via their e-brokerage accounts.
About Standard & Poor's Factual Stock Reports
This Standard & Poor`s service provides factual research coverage enabling
information about Western Asset Municipal Defined Opportunity Trust Inc. and
other securities to reach a wide investor audience of Buy and Sell-side
investors, helping them understand a company`s fundamentals and business
prospects. Currently profiling over 1,000 issuers, S&P Factual Stock Reports
increase market awareness for issuers in the investment community with
insightful commentary and key statistics/information. Updated weekly with the
latest pricing, trading volume, and other data, the reports include recent
developments, a financial review, key operating information, Industry and peer
comparisons, institutional holdings analysis, Street Consensus and opinions,
performance charts, business summary, fundamental data, and news. Because
coverage of these reports is sponsored by the issuer, S&P does not offer
investment opinions concerning the advisability of investing in these stocks.
Standard & Poor`s Factual Stock Reports are produced separately from any other
analytic activity of Standard & Poor`s. Standard & Poor`s Factual Report
research has no access to non-public information received by other units of
Standard & Poor`s. Standard & Poor`s does not trade on its own account.
Note:All U.S. and Canadian Companies listed on a National Exchange (not covered
by S&P`s STARS research) are eligible to obtain this coverage.
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the
world's foremost provider of financial market intelligence, including
independent credit ratings, indices, risk evaluation, investment research and
data. With approximately 10,000 employees, including wholly owned affiliates,
located in 23 countries, Standard & Poor's is an essential part of the world's
financial infrastructure and has played a leading role for more than 140 years
in providing investors with the independent benchmarks they need to feel more
confident about their investment and financial decisions. For more information,
visit http://www.standardandpoors.com.
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Western Asset Municipal Defined Opportunity Trust Inc.:
Fund Services, 1-888-777-0102
or
Standard & Poor's:
Customer Contact:
Richard Albanese, 212-438-3647
richard_albanese@standardandpoors.com
or
Media Relations:
Michael Privitera, 212-438-6679
michael_privitera@standardandpoors.com
Copyright Business Wire 2009
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