Fitch: Neuberger preferreds AA

Fitch Ratings said it assigned an AA rating to Neuberger Berman Real Estate Securities Income Fund Inc.'s $25 million of 4% mandatory redeemable preferred stock due Sept. 26, 2017.

The agency said the rating is based on the sufficient asset coverage provided by the fund's underlying portfolio of assets, the structural protections afforded by mandatory cure and deleveraging provisions in the event of asset coverage declines, the legal and regulatory parameters that govern the fund's operations and the capabilities of the adviser.

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