Avenue Income Credit Strategies Fund Sets New Dividend Rate for January Monthly Dividend

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  Published in Business and Finance on Tuesday, December 20th 2011 at 14:05 GMT by Market Wire
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Avenue Income Credit Strategies Fund Sets New Dividend Rate for January Monthly Dividend

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NEW YORK, Dec. 20, 2011 /PRNewswire/ – Avenue Income Credit Strategies Fund (NYSE: [ ACP ]), a closed-end management investment company, declared on this date, December 20, 2011, a monthly dividend of  $0.12  per share of Common Stock, payable January 13, 2012 to shareholders of record at the close of business on December 30, 2011.  Ex-date will be December 28, 2011.  Based on the NYSE closing price of $15.15 on December 20, 2011, the Fund's annualized dividend yield was 9.50%.

The Fund has decreased its monthly dividend rate to a level that better approximates the current level of net investment income generated by its investment portfolio.

For more information please call: 1-877-525-7330.

The amount of dividends paid by the Fund may vary from time to time.  Past amounts of dividends are no guarantee of future dividend amounts.

The final determination of the source and tax characteristics of all distributions in 2012 will be made after the end of the year.

Investing involves risk and it is possible to lose money on any investment in the Fund.

The Fund's investment adviser is Avenue Capital Management II, L.P., and the Fund's subadviser is Avenue Europe International Management, L.P. Both entities are part of Avenue Capital Group.

SOURCE Avenue Income Credit Strategies Fund