Company: BLE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001193125-25-175555
Chunk: 271

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 271
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B’ ratings indicate that expectations of credit risk are currently low. The                                                        
 capacity for payment of financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity. |

| BB | Speculative. ‘BB’ ratings indicate an elevated vulnerability to credit risk, particularly in the                                                                              
 event of adverse changes in business or economic conditions over time; however, business or financial alternatives may be available to allow financial commitments to be met. |

| B | Highly Speculative. ‘B’ ratings indicate that material credit risk is present. |

| CCC | Substantial Credit Risk. ‘CCC’ ratings indicate that substantial credit risk is present. |

| CC | Very High Levels of Credit Risk. ‘CC’ ratings indicate very high levels of credit risk. |

| C | Exceptionally High Levels of Credit Risk. ‘C’ indicates exceptionally high levels of credit risk. |

Within rating categories, Fitch may use modifiers. The modifiers “+” or “-” may be appended to a rating to denote relative status within major rating categories. For example, the rating category ‘AA’ has three notch-specific rating levels (‘AA+’; ‘AA’; ‘AA–’; each a rating level). Such suffixes are not added to ‘AAA’ ratings and ratings below the ‘CCC’ category. For the short-term rating category of ‘F1’, a ‘+’ may be appended. Description of Fitch’s Short-Term Ratings Assigned to Issuers and Obligations A short-term issuer or obligation rating is based in all cases on the short-term vulnerability to default of the rated entity and relates to the capacity to meet financial obligations in accordance with the documentation governing the relevant obligation. Short-term deposit ratings may be adjusted for loss severity. Short-term ratings are assigned to obligations whose initial maturity is viewed as “short term” based on market convention. Typically, this means up to 13 months for corporate, sovereign, and structured obligations and up to 36 months for obligations in U.S. public finance markets. Fitch short-term ratings are as follows:

| F1 | Highest Short-Term Credit Quality. Indicates the strongest intrinsic capacity for timely payment of financial 
 commitments; may have an added “+” to denote any exceptionally strong credit feature.                         |

| F2 | Good Short-Term Credit Quality. Good intrinsic capacity for timely payment of financial commitments. |

| F3 | Fair Short-Term Credit Quality. The intrinsic capacity for timely payment of financial commitments is 
 adequate.