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Fitch Withdraws Ratings on Neuberger Berman Income Opportunity Fund Notes & Preferred Shares

^{Published on 2010-08-11 13:15:42 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Fitch Ratings has withdrawn the 'AAA' ratings assigned to the following notes and preferred shares previously issued by Neuberger Berman Income Opportunity Fund (NYSE: NOX), a closed-end fund managed by Neuberger Berman Management LLC:

--$36,700,000 of Series A floating rate senior notes;

--$14,875,000 of Series A perpetual preferred shares.

Fitch's rating withdrawal is a result of the fund's reorganization with Neuberger Berman High Yield Strategies Fund (NYSE: NHS) into a newly formed fund, Neuberger Berman High Yield Strategies Fund Inc., on Aug. 6, 2010. Upon the reorganization, holders of NOX preferred shares and notes received the same number of shares and ownership units, respectively, in Neuberger Berman High Yield Strategies Fund Inc. as they held in NOX immediately prior to the reorganization. As such, the liabilities previously rated by Fitch are no longer outstanding.

Additional information is available at '[ www.fitchratings.com ]'.

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