Gabelli Utility Trust Confirms Series B Preferred Shares Rating
RYE, N.Y.--(BUSINESS WIRE)--The Gabelli Utility Trust (NYSE:GUT) (the “Fund”) has 900 shares of Series B Auction Market Preferred Shares outstanding. The secondary credit rating agency for the Series B Preferred Shares changed from Standard & Poor’s Ratings Services to Fitch Ratings (“Fitch”) on January 28, 2014.
The Series B Preferred Shares are rated AA by Fitch and Aa3 by Moody’s Investors Service.
The Gabelli Utility Trust is a non-diversified, closed-end management investment company with $296 million in total net assets whose primary investment objective is to seek long-term growth of capital and income by investing primarily in utility companies involved in the generation and distribution of electricity, gas, and water. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).
CUSIP – 36240A101