Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 424

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 424
---
 |

| 2 | The nature and provisions of the financial obligation, and the promise S&P imputes; and |

A-3

| 3 | The protection afforded by, and relative position of, the financial obligation in the event of a bankruptcy,  
 reorganization, or other arrangement under the laws of bankruptcy and other laws affecting creditors’ rights. |

An issue rating is an assessment of default risk but may incorporate an assessment of relative seniority or ultimate recovery in the event of default. Junior obligations are typically rated lower than senior obligations, to reflect lower priority in bankruptcy, as noted above. (Such differentiation may apply when an entity has both senior and subordinated obligations, secured and unsecured obligations, or operating company and holding company obligations.) Long-Term Issue Credit Ratings*

| AAA      |     | An obligation rated ‘AAA’ has the highest rating assigned by S&P. The obligor’s capacity to meet its                                                                                                                                              
 financial commitments on the obligation is extremely strong.                                                                                                                                                                                      |
| AA       |     | An obligation rated ‘AA’ differs from the highest-rated obligations only to a small degree. The obligor’s                                                                                                                                         
 capacity to meet its financial commitments on the obligation is very strong.                                                                                                                                                                      |
| A        |     | An obligation rated ‘A’ is somewhat more susceptible to the adverse effects of changes in circumstances and                                                                                                                                       
 economic conditions than obligations in higher-rated categories. However, the obligor’s capacity to meet its financial commitments on the obligation is still strong.                                                                             |
| BBB      |     | An obligation rated ‘BBB’ exhibits adequate protection parameters. However, adverse economic conditions or                                                                                                                                        
 changing circumstances are more likely to weaken the obligor’s capacity to meet its financial commitments on the obligation.                                                                                                                      |
| BB, B,   
 CCC, CC, 
 and C    |     | Obligations rated ‘BB’, ‘B’, ‘CCC’, ‘CC’, and ‘C’ are regarded                                                                                                                                                                                    
 as having significant speculative characteristics. ‘BB’ indicates the least degree of speculation and ‘C’ the highest. While such obligations will likely have some quality and protective characteristics, these may be                          
 outweighed by large uncertainties or major exposure to adverse conditions.                                                                                                                                                                        |
| BB       |     | An obligation rated ‘BB’ is less vulnerable to nonpayment than other speculative issues. However, it faces                                                                                                                                        
 major ongoing uncertainties or exposure to adverse business, financial, or economic conditions that could lead to the obligor’s inadequate capacity to meet its financial commitments on the obligation