BlackRock Announces Information Relating to Certain Investment Policies for BlackRock Credit Allocation Income Trust

NEW YORK–(BUSINESS WIRE)–BlackRock Advisors, LLC (“BlackRock”) announced today certain
information regarding the investment policies for BlackRock Credit
Allocation Income Trust (NYSE:BTZ) (the “Fund”), including a change to a
non-fundamental investment policy. The policies as described below are
intended to provide greater flexibility for BTZ to continue to invest in
what BlackRock believes are the most attractive credit opportunities.

Non-U.S. Securities. The Fund’s Board of Trustees has approved
changes to a non-fundamental investment policy of the Fund, as set forth
below. The change to the Fund’s non-fundamental investment policy is
expected to take effect on or about February 8, 2019.

   
Current Policy     New Policy

Under normal market conditions, up to 35%
of the Fund’s
Managed Assets may be
invested in non-U.S. securities, which
may
include securities denominated in U.S.
dollars or in
non-U.S. currencies or
multinational currency units.

   

Under normal market conditions, up to 50%
of the Fund’s
Managed Assets may be
invested in non-U.S. securities, which
may
include securities denominated in U.S.
dollars or in
non-U.S. currencies or
multinational currency units.

 

Average Credit Quality. The Fund’s existing investment policies
permit it to invest, under normal market conditions, without limitation
in securities rated below investment grade at the time of purchase.
Notwithstanding this policy, the Fund has previously disclosed that it
was anticipated, under then-current market conditions, that the Fund
would have an anticipated average credit quality of at least investment
grade. BlackRock currently intends to manage the Fund’s credit quality
in accordance with its stated investment policy, which means that at
times the Fund’s average credit quality may be at or below investment
grade.

There are no changes to the Fund’s investment objective or to other
investment policies of the Fund.

About BlackRock

BlackRock helps investors build better financial futures. As a fiduciary
to investors and a leading provider of financial technology, our clients
turn to us for the solutions they need when planning for their most
important goals. As of December 31, 2018, the firm managed approximately
$5.98 trillion in assets on behalf of investors worldwide. For
additional information on BlackRock, please visit www.blackrock.com
| Twitter: @blackrock | Blog: www.blackrockblog.com
|
LinkedIn: www.linkedin.com/company/blackrock.

Availability of Fund Updates

BlackRock will update performance and certain other data for the Fund on
a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as
well as certain other material information as necessary from time to
time. Investors and others are advised to check the website for updated
performance information and the release of other material information
about the Fund. This reference to BlackRock’s website is intended to
allow investors public access to information regarding the Fund and does
not, and is not intended to, incorporate BlackRock’s website in this
release.

Forward-Looking Statements

This press release, and other statements that BlackRock or the Fund may
make, may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, with respect to the Fund’s or
BlackRock’s future financial or business performance, strategies or
expectations. Forward-looking statements are typically identified by
words or phrases such as “trend,” “potential,” “opportunity,”
“pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,”
“intention,” “estimate,” “position,” “assume,” “outlook,” “continue,”
“remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar
expressions, or future or conditional verbs such as “will,” “would,”
“should,” “could,” “may” or similar expressions.

BlackRock cautions that forward-looking statements are subject to
numerous assumptions, risks and uncertainties, which change over time.
Forward-looking statements speak only as of the date they are made, and
BlackRock assumes no duty to and does not undertake to update
forward-looking statements. Actual results could differ materially from
those anticipated in forward-looking statements and future results could
differ materially from historical performance.

With respect to the Fund, the following factors, among others, could
cause actual events to differ materially from forward-looking statements
or historical performance: (1) changes and volatility in political,
economic or industry conditions, the interest rate environment, foreign
exchange rates or financial and capital markets, which could result in
changes in demand for the Fund or in the Fund’s net asset value; (2) the
relative and absolute investment performance of the Fund and its
investments; (3) the impact of increased competition; (4) the
unfavorable resolution of any legal proceedings; (5) the extent and
timing of any distributions or share repurchases; (6) the impact, extent
and timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall Street
Reform and Consumer Protection Act, and regulatory, supervisory or
enforcement actions of government agencies relating to the Fund or
BlackRock, as applicable; (8) terrorist activities, international
hostilities and natural disasters, which may adversely affect the
general economy, domestic and local financial and capital markets,
specific industries or BlackRock; (9) BlackRock’s ability to attract and
retain highly talented professionals; (10) the impact of BlackRock
electing to provide support to its products from time to time; and (11)
the impact of problems at other financial institutions or the failure or
negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Fund
with the Securities and Exchange Commission (“SEC”) are accessible on
the SEC’s website at www.sec.gov and
on BlackRock’s website at www.blackrock.com ,
and may discuss these or other factors that affect the Fund. The
information contained on BlackRock’s website is not a part of this press
release.

Contacts

BlackRock Closed-End Funds
1-800-882-0052

error: Content is protected !!