Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 342

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 342
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 level and instrument level on both the long-term scale and the short-term scale. Typically, ratings are made publicly available although private and unpublished ratings may also be assigned. Moody’s differentiates structured finance ratings from fundamental ratings (i.e., ratings on nonfinancial corporate, financial institution, and public sector entities) on the global long-term scale by adding (sf) to all structured finance ratings. The addition of (sf) to structured finance ratings should eliminate any presumption that such ratings and fundamental ratings at the same letter grade level will behave the same. The (sf) indicator for structured finance security ratings indicates that otherwise similarly rated structured finance and fundamental securities may have different risk characteristics. Through its current methodologies, however, Moody’s aspires to achieve broad expected equivalence in structured finance and fundamental rating performance when measured over a long period of time. Description of Moody’s Global Long-Term Rating Scale

| Aaa |     | Obligations rated Aaa are judged to be of the highest quality, subject to the lowest level of credit risk.                                           |
| Aa  |     | Obligations rated Aa are judged to be of high quality and are subject to very low credit risk.                                                       |
| A   |     | Obligations rated A are judged to be upper-medium grade and are subject to low credit risk.                                                          |
| Baa |     | Obligations rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain speculative characteristics. |
| Ba  |     | Obligations rated Ba are judged to be speculative and are subject to substantial credit risk.                                                        |
| B   |     | Obligations rated B are considered speculative and are subject to high credit risk.                                                                  |
| Caa |     | Obligations rated Caa are judged to be speculative of poor standing and are subject to very high credit risk.                                        |
| Ca  |     | Obligations rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery of principal and interest.      |
| C   |     | Obligations rated C are the lowest rated and are typically in default, with little prospect for recovery of principal or interest.                   |

D-1

Note: Moody’s appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. The modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates a