Company: NAZ
Filing Date: 2025-04-15
Form Type: N-2/A
Source: 0001999371-25-004231
Chunk: 119

Company: NUVEEN ARIZONA QUALITY MUNICIPAL INCOME FUND
Filing Date: 2025-04-15
Form: N-2/A
Chunk 119
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 prospect for recovery of principal or interest. Note: Moody’s applies numerical modifiers 1,2 and 3 in each generic rating classification from ‘Aa’ through ‘Caa’. The modifier 1 indicates mat the issue ranks in the higher end of its generic rating category; the modifier 2 indicates a mid-range ranking; and the modifier 3 indicates that the issue ranks in the lower end of its generic rating category. A-4 Short-Term Loans MIG 1 This designation denotes superior credit quality. Excellent protection is afforded by established cash flows, highly reliable liquidity support, or demonstrated broad-based access to the market for refinancing. MIG 2 This designation denotes strong credit quality. Margins of protection are ample, although not as large as in the preceding group. MIG 3 This designation denotes acceptable credit quality. Liquidity and cash-flow protection may be narrow, and market access for refinancing is likely to be less well-established. SG This designation denotes speculative-grade credit quality. Debt instruments in this category may lack sufficient margins of protection. VMIG 1 This designation denotes superior credit quality. Excellent protection is afforded by the superior short-term credit strength of the liquidity provider and structural and legal protections. VMIG 2 This designation denotes strong credit quality. Good protection is afforded by the strong short-term credit strength of the liquidity provider and structural and legal protections. VMIG 3 This designation denotes acceptable credit quality. Adequate protection is afforded by the satisfactory short-termcredit strength of the liquidity provider and structural and legal protections. SG This designation denotes speculative-grade credit quality. Demand features rated in this category may be supported by a liquidity provider that does not have a sufficiently strong short-term rating or may lack the structural or legal protections. Commercial Paper Issuers (or supporting institutions) rated Prime-1have a superior ability for repayment of senior short-term debt obligations. Issuers (or supporting institutions) rated Prime-2have a strong ability for repayment of senior short-term debt obligations. Issuers (or supporting institutions) rated Prime-3have an acceptable ability for repayment of senior short-term debt obligations. Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories. A-5 Fitch Ratings—A brief description of the applicable Fitch Ratings (“Fitch”) ratings symbols and meanings (as published by Fitch) follows: Long-Term Credit Ratings Investment Grade AAA Highest credit quality. ‘AAA’ ratings denote the lowest expectation of credit risk. They are assigned only in case of exceptionally