Company: MYI
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074486
Chunk: 47

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 47
---
/29/25 | 06/04/25 | 07/06/25 |

The VRDP Shares are also subject to a purchase agreement in connection with the liquidity feature. In the event a purchase agreement is not renewed or is terminated in advance, and the VRDP Shares do not become subject to a purchase agreement with an alternate liquidity provider, the VRDP Shares will be subject to mandatory purchase by the liquidity provider prior to the termination of the purchase agreement. In the event of such mandatory purchase, a VRDP Fund is required to redeem the VRDP Shares six months after the purchase date. Immediately after such mandatory purchase, the VRDP Fund is required to begin to segregate liquid assets with its custodian to fund the redemption. There is no assurance that a VRDP Fund will replace such redeemed VRDP Shares with any other preferred shares or other form of leverage. Remarketing: A VRDP Fund may incur remarketing fees on the aggregate principal amount of all its VRDP Shares, which, if any, are included in remarketing fees on Preferred Shares in the Statements of Operations. During any special rate period (as described below), a VRDP Fund may incur nominal or no remarketing fees. Ratings: As of period end, the VRDP Shares were assigned the following ratings:

| Fund Name | Moody’s InvestorsService, Inc.Long-TermRatings | Moody’s InvestorsService, Inc.Short-TermRatings | Fitch Ratings, Inc.Long-TermRatings | S&P GlobalShort-TermRatings |
| BTA       | Aa2                                            | P-1                                             | N/A                                 | A-1                         |
| MUA       | Aa2                                            | P-1                                             | N/A                                 | A-1                         |
| MYD       | Aa1                                            | P-1                                             | AA                                  | A-1                         |
| MQY       | Aa1                                            | P-1                                             | AA                                  | A-1+                        |
| MYI       | Aa1                                            | N/A                                             | AA                                  | N/A                         |

Notes to Financial Statements 95

Notes to Financial Statements (unaudited) (continued)

Any short-term ratings on VRDP Shares are directly related to the short-term ratings of the liquidity provider for such VRDP Shares. Changes in the credit quality of the liquidity provider could cause a change in the short-term credit ratings of the VRDP Shares as rated by Moody’s and S&P Global Ratings. The liquidity provider may be terminated prior to