Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 184

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 184
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 in default. Below investment grade securities and comparable unrated securities involve substantial risk of loss, are considered speculative with respect to
the issuer’s ability to pay interest and any required redemption or principal payments and are susceptible to default or decline in market value due to adverse economic and business developments.

All percentage and ratings limitations on securities in which MIY may invest apply at the time of making an investment and shall not be
considered violated if an investment rating is subsequently downgraded to a rating that would have precluded MIY’s initial investment in such security. In the event that MIY disposes of a portfolio security subsequent

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to its being downgraded, MIY may experience a greater risk of loss than if such security had been sold prior to such downgrade.

MIY intends to invest primarily in long-term MIY Municipal Bonds with maturities of more than ten years. However, MIY also may invest in
intermediate term MIY Municipal Bonds with maturities of between three years and ten years. MIY also may invest from time to time in short-term MIY Municipal Bonds with maturities of less than three years. The average maturity of MIY’s
portfolio securities will vary based upon the Investment Advisor’s assessment of economic and market conditions.

For temporary
periods or to provide liquidity, MIY has the authority to invest as much as 20% of its total assets in tax-exempt and taxable money market obligations with a maturity of one year or less (such short-term
obligations being referred to herein as “Temporary Investments”). In addition, MIY reserves the right as a defensive measure to invest temporarily a greater portion of its assets in Temporary Investments, when, in the opinion of the
Investment Advisor, prevailing market or financial conditions warrant. Taxable money market obligations will yield taxable income. MIY also may invest in VRDOs and VRDOs in the form of Participating VRDOs in variable rate tax-exempt obligations held by a financial institution. MIY’s hedging strategies are not fundamental policies and may be modified by the Board of MIY without the approval of MIY’s shareholders. MIY is
also authorized to invest in indexed and inverse floating rate obligations for hedging purposes and to seek to enhance return.

MIY may
invest in securities not issued by or on behalf of a state or territory or by an agency or instrumentality thereof, if MIY receives an opinion of counsel to the issuer that such securities pay interest that is excludable from gross income