Company: BLE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001193125-25-175555
Chunk: 265

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 265
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 uses the MIG scale for U.S. municipal cash flow notes, bond anticipation notes and certain other short-term obligations, which typically mature in three years or less. Under certain circumstances, Moody’s uses the MIG scale for bond anticipation notes with maturities of up to five years. MIG Scale

| 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.                                      |

D-3

SG This designation denotes speculative-grade credit quality. Debt instruments in this category may lack sufficient margins of protection. Description of Moody’s Demand Obligation Ratings In the case of variable rate demand obligations (“VRDOs”), a two-componentrating is assigned. The components are a long-term rating and a short-term demand obligation rating. The long-term rating addresses the issuer’s ability to meet scheduled principal and interest payments. The short-term demand obligation rating addresses the ability of the issuer or the liquidity provider to make payments associated with the purchase-price-upon-demand feature (“demand feature”) of the VRDO. The short-term demand obligation rating uses the VMIG scale. VMIG ratings with liquidity support use as an input the short-term Counterparty Risk Assessment of the support provider, or the long-term rating of the underlying obligor in the absence of third party liquidity support. Transitions of VMIG ratings of demand obligations with conditional liquidity support differ from transitions on the Prime scale to reflect the risk that external liquidity support will terminate if the issuer’s long-term rating drops below investment grade. Moody’s typically assigns the VMIG short-term demand obligation rating if the frequency of the demand feature is less than every three years. If the frequency of the demand feature is less than three years but the purchase price is payable only with remarketing proceeds, the short-term demand obligation rating is “NR”. VMIG Scale

| 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 that ensure the timely payment of purchase price upon demand. |

| VMIG