Company: EOI
Filing Date: 2025-01-22
Form Type: 424B5
Source: 0001193125-25-010284
Chunk: 198

Company: Eaton Vance Enhanced Equity Income Fund
Filing Date: 2025-01-22
Form: 424B5
Chunk 198
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 Near default. A default or default-like process has begun, or the issuer is in standstill, or for a closed funding vehicle, payment capacity is irrevocably impaired. Conditions that are indicative of a ‘C’ category rating for an issuer include:•The issuer has entered into a grace or cure period followingnon-paymentof a material financial obligation;•The issuer had entered into a temporary negotiated waiver or standstill agreement following a payment default on a material financial obligation;•The formal announcement by the issuer or their agent of distressed debt exchange;•A closed financing vehicle where payment capacity is irrevocably impaired such that it is not expected to pay interest and/or principal in full during the life of the transaction, but where no payment default is imminent.RD: Restricted Default. ‘RD’ ratings indicate an issuer that in Fitch’s opinion has experienced:•An unsecured payment default or distressed debt exchange on a bond, loan or other material financial obligation, but•Has not entered into bankruptcy filings, administration, receivership, liquidation, or other formalwinding-upprocedure, and•Has not otherwise ceased operating.This would include:•The selective payment default on specific class or currency of debt;•The uncured expiry of any applicable grace period, cure period or default forbearance period following a payment default on a bank loan, capital markets security or other material financial obligation;•The extension of multiple waivers of forbearance periods upon a payment default on one or more material financial obligations, either in series or in parallel; ordinary execution of a distressed debt exchange on one or more material financial obligations.D: Default. ‘D’ ratings indicate an issuer that in Fitch’s opinion has entered into bankruptcy filings, administration, receivership, liquidation or other formalwinding-upprocedure or that has otherwise ceased business.Eaton Vance Enhanced Equity Income Fund43SAI dated January 17, 2025

#### •Default ratings are not assigned prospectively to entities or their obligations; within this context,non-paymenton an instrument that contains a deferral feature or grace period will generally not be considered a default until after the expiration of the deferral or grace period, unless a default is otherwise driven by bankruptcy or other similar circumstance, or by a distressed debt exchange.•In all cases, the assignment of default rating reflects the agency’s opinion as to the most appropriate rating category consistent with the rest of its universe of ratings and may differ from the definition of default under the terms of an issuer’s financial obligations or local commercial practice.N