TEXT - Fitch on New America High Income Fund
Dec 3 - The following auction term preferred stock (ATP) issued by New America High Income Fund, Inc. (NYSE: HYB) are paid in full (PIF) following the full redemption of outstanding shares, according to Fitch Ratings: --$85,425,000 of ATP, consisting of Series A, B, C and D, redeemed Nov. 9, 2012 to 'PIF' from 'AAA'. HYB is a closed-end fund managed by T. Rowe Price Associates, Inc. The redemption of outstanding ATP took place as part of a refinancing of the fund's leverage. The fund has arranged a credit facility to finance the redemption. Borrowings from this credit facility are now the fund's sole source of leverage.
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