Company: MMU
Filing Date: 2025-07-30
Form Type: N-CSR
Source: 0001133228-25-007762
Chunk: 0

Company: WESTERN ASSET MANAGED MUNICIPALS FUND INC.
Filing Date: 2025-07-30
Form: N-CSR
Chunk 0
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<div align='center'>UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-06629

Western Asset Managed Municipals Fund Inc.

(Exact name of registrant as specified in charter)

One Madison Avenue, 17th Floor, New York, NY 10010

(Address of principal executive offices) (Zip code)

Marc A. De Oliveira

Franklin Templeton

100 First Stamford Place

Stamford, CT 06902

(Name and address of agent for service)

Registrant’s telephone number, including area
code: 1-888-777-0102

Date of fiscal year end: May 31

Date of reporting period: May 31, 2025</div>

| ITEM 1. | REPORT TO STOCKHOLDERS |

(a) The Report to Shareholders is filed herewith

Annual Report May 31, 2025

WESTERN ASSET
MANAGED MUNICIPALS
FUND INC. (MMU)

Fund objective The Fund’s investment objective is to seek as high a level of current income exempt from federal income tax* as is consistent with preservation of capital.

When pursuing its investment objective, the Fund seeks to maximize current income exempt from federal income tax as is consistent with preservation of principal.

The Fund seeks to achieve its objective by investing primarily in long-term investment grade municipal debt securities issued by state and local governments, political subdivisions, agencies and public authorities (municipal obligations). Under normal market conditions, the Fund will invest at least 80% of its total assets in municipal obligations rated investment grade at the time of investment. What’s inside

| Letter from the president                                                     | III |
| Fund overview                                                                 |   1 |
| Fund at a glance                                                              |   6 |
| Fund performance                                                              |   7 |
| Schedule of investments                                                       |   9 |
| Statement of assets and liabilities                                           |  35 |
| Statement of operations                                                       |  36 |
| Statements of changes in net assets                                           |  37 |
| Statement of cash flows                                                       |  38 |
| Financial highlights                                                          |  39 |
| Notes to financial statements                                                 |  41 |
| Report of independent registered public accountingfirm                        |  56 |
| Board approval of management and subadvisoryagreements