Company: OIA
Filing Date: 2025-05-02
Form Type: N-CSR
Source: 0001193125-25-111534
Chunk: 31

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-05-02
Form: N-CSR
Chunk 31
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 under the lease obligation. The Trust may also purchase “certificates of participation,” which evidence a

| 29 |     | Invesco Municipal Income Opportunities Trust |

proportionate interest in base rental or lease payments to be made by a county, city or other governmental authority or entity. The Trust reserves the right to invest 25% or more of its total assets in any of the following types of Municipal Obligations provided that the percentage of the Trust’s total assets in private activity bonds in any one category does not exceed 25% of the Trust’s total assets: health facility obligations, housing obligations, single family mortgage revenue bonds, industrial revenue obligations (including pollution control obligations), electric utility obligations, airport facility revenue obligations, water and sewer obligations, university and college revenue obligations, bridge authority and toll road obligations and resource recovery obligations. Subject to the foregoing, the Trust may invest more than 25% of its total assets in a segment of the municipal securities market with similar characteristics if the Adviser determines that the yields available from obligations in a particular segment justify the additional risks of a larger investment in such segment. The Trust has no policy limiting its investments in municipal securities whose issuers are located in the same state. If the Trust were to invest a significant portion of its total assets in issuers located in the same state, it would be more susceptible to adverse economic, business or regulatory conditions in that state. The Trust may invest up to 35% of its assets in lower-grade municipal securities. Lower-grade municipal securities shall include securities rated by S&P or Fitch, Inc. as BB-through D (inclusive) for bonds or SP-2or lower for notes; by Moody’s as Ba3 through D (inclusive) for bonds or MIG3 or VMIG3 or lower for notes, or unrated municipal securities determined by Invesco to be of comparable quality at the time of purchase. †If two or more nationally recognized statistical rating organizations (“NRSROs”) have assigned different ratings to a security, the Adviser uses the lowest rating assigned. Medium- and lower-grade securities are inclusive of some securities rated below investment grade. Securities rated below investment grade are commonly referred to as junk bonds. The Trust may invest in securities that are in default. † The Adviser actively manages the Trust’s portfolio and adjusts the average maturity of portfolio investments based upon its expectations regarding the direction of interest rates and other economic factors. The Adviser seeks to identify those securities that it believes entail reasonable credit risk considered in relation