Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 132

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 132
---
loss

due

to

default

than

higher

rated

securities.

The

Fund held

defaulted

securities

and/or

other

securities

for

which

the

income

has

been

deemed

uncollectible.

At

September

30,

2025,

the

aggregate

value

of

these

securities represents

less

than

0.1% of

the

Fund's

net

assets.

The

Fund

discontinues

accruing

income

on

securities

for

which

income

has

been

deemed

uncollectible

and

provides

an

estimate

for

losses

on

interest

receivable.

The

securities

have

been

identified

in

the

accompanying Schedule

of

Investments.

#### 8.

#### Unfunded

#### Loan

#### Commitments
The

Fund

enters

into

certain

credit

agreements,

all

or

a

portion

of

which

may

be

unfunded.

The Fund

is

obligated

to

fund

these

loan

commitments

at

the

borrowers’

discretion.

Unfunded

loan

commitments

and

funded

portions

of

credit

agreements

are

marked

to

market

daily

and

any

unrealized

appreciation

or

depreciation

is

included

in

the

Statement

of

Assets

and

Liabilities

and

the

Statement

of

Operations.

Funded

portions

of

credit

agreements

are

presented

in

the

Schedule

of

Investments.

At

September

30,

2025,

unfunded

commitments

were

as

follows:

Cost

of

investments

..........................................................................

$209,212,720

Unrealized

appreciation

........................................................................

$10,354,310

Unrealized

depreciation

........................................................................

(27,890,190)

Net

unrealized

appreciation

(depreciation)

..........................................................

$(17,535,880)

#### Borrower

#### Unfunded

#### Commitment

#### Putnam

#### Master

#### Intermediate

#### Income

#### Trust
Clydesdale

Acquisition

Holdings