<SEC-DOCUMENT>0001287695-15-000515.txt : 20151228
<SEC-HEADER>0001287695-15-000515.hdr.sgml : 20151225
<ACCEPTANCE-DATETIME>20151228114423
ACCESSION NUMBER:		0001287695-15-000515
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20151031
FILED AS OF DATE:		20151228
DATE AS OF CHANGE:		20151228
EFFECTIVENESS DATE:		20151228

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BlackRock Multi-Sector Income Trust
		CENTRAL INDEX KEY:			0001562818
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22774
		FILM NUMBER:		151308384

	BUSINESS ADDRESS:	
		STREET 1:		55 EAST 52ND STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10055
		BUSINESS PHONE:		800-882-0052

	MAIL ADDRESS:	
		STREET 1:		55 EAST 52ND STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10055

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BlackRock Fixed Income Strategic Opportunities
		DATE OF NAME CHANGE:	20121126
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B
<SEQUENCE>1
<FILENAME>bitanswer.fil
<TEXT>
<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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<PAGE>      PAGE  4
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SIGNATURE   NEAL J. ANDREWS
TITLE       CFO

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77O RULE 10F-3
<SEQUENCE>2
<FILENAME>firstdart77o.txt
<TEXT>
<PAGE>

Participating Funds

..  U.S. Registered Funds (Name of Fund, Aladdin Ticker):
   iShares iBoxx $ High Yield Corporate Bond ETF (ISHHYLD)
   iShares U.S. Fixed Income Balanced Risk ETF (ISHINC)
   BlackRock Alternative Strategies Fund - Trading Account (ACS-TRD)
   BlackRock Core Bond Trust - High Yield (BHK-HYLD)
   BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD)
   BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD)
   BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC)
   BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD)
   BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY)
   BlackRock Secured Credit Portfolio (BR-MSB)
   BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF)
   BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI)
   BlackRock High Yield V.I. Fund (BVA-HY)
   BlackRock Debt Strategies Fund, Inc. (DSU)
   BlackRock Corporate High Yield Fund, Inc. (HYT)
   MIST BlackRock High Yield Portfolio (MIST-HY)
   AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY)
   JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC)

The Offering

Key Characteristics (Complete ALL Fields)

Date of Offering Commencement:  10-29-2015
Security Type:                  BND/CORP

Issuer                          First Data Corporation (2023)
Selling Underwriter             Merrill Lynch, Pierce, Fenner & Smith
                                Incorporated
Affiliated Underwriter(s)       [X] PNC Capital Markets LLC
                                [_] Other:
List of Underwriter(s)          Merrill Lynch, Pierce, Fenner & Smith
                                Incorporated, Citigroup Global Markets Inc,
                                Deutsche Bank Securities Inc., Morgan Stanley
                                & Co. LLC, Credit Suisse Securities (USA) LLC,
                                Barclays Capital Inc HSBC Securities (USA)
                                Inc, Mizuho Securities USA Inc, PNC Capital
                                Markets LLC, SunTrust Robinson Humphrey, Inc,
                                Wells Fargo Securities, LLC, KKR Capital
                                Markets LLC, BBVA Securities Inc., KeyBanc
                                Capital Markets Inc

Transaction Details

<TABLE>
<S>                                            <C>         <C>               <C>
Date of Purchase                                10-29-2015

Purchase Price/Share                                       Total Commission,
(per share / % of par)                         $       100 Spread or Profit          1.00%

1. Aggregate Principal Amount Purchased (a+b)                                $450,000,000
</TABLE>

                                                                    Page 1 of 2

<PAGE>

Rule 10f-3 Report - Definitions


<TABLE>
<S>                                                                    <C>
    a.  US Registered Funds
        (Appendix attached with individual Fund/Client purchase)       $  306,502,000

    b.  Other BlackRock Clients                                        $  143,498,000

2. Aggregate Principal Amount of Offering                              $3,400,000,000

Fund Ratio
[Divide Sum of #1 by #2]
Must be less than 0.25                                                         0.1323
</TABLE>

Legal Requirements

Offering Type (check ONE)

The securities fall into one of the following transaction types (see
Definitions):

[X]  U.S. Registered Public Offering     [Issuer must have 3 years of
                                         continuous operations]
[_]  Eligible Rule 144A Offering         [Issuer must have 3 years of
                                         continuous operations]
[_]  Eligible Municipal Securities
[_]  Eligible Foreign Offering           [Issuer must have 3 years of
                                         continuous operations]
[_]  Government Securities Offering      [Issuer must have 3 years of
                                         continuous operations]

Timing and Price (check ONE or BOTH)

[X]  The securities were purchased before the end of the first day on which any
     sales were made, at a price that was not more than the price paid by each
     other purchaser of securities in that offering or in any concurrent
     offering of the securities; and

[_]  If the securities are offered for subscription upon exercise of rights,
     the securities were purchased on or before the fourth day before the day
     on which the rights offering terminated.

Firm Commitment Offering (check ONE)

[X] YES  The securities were offered pursuant to an underwriting or similar
[_] NO   agreement under which the underwriters were committed to purchase all
         of the securities being offered, except those purchased by others
         pursuant to a rights offering, if the underwriters purchased any of
         the securities.

No Benefit to Affiliated Underwriter (check ONE)

[X] YES  No affiliated underwriter was a direct or indirect participant in, or
[_] NO   benefited directly or indirectly from, the transaction.

Completed by:   Dipankar Banerjee                            Date:  11-04-2015
                -----------------------------------------           -----------
                Global Syndicate Team Member

Approved by:                                                 Date:
                -----------------------------------------           -----------
                Global Syndicate Team Member

<PAGE>

Rule 10f-3 Report - Definitions



Definitions

Term                       Definition
Fund Ratio                 Number appearing at the bottom of page 1 of 2 of
                           the Rule 10f-3 Report form. It is the sum of the
                           Funds' participation in the offering by the Funds
                           and other accounts managed by BlackRock divided by
                           the total amount of the offering.

Eligible Foreign Offering  The securities are sold in a public offering
                           conducted under the laws of a country other than
                           the United States and

                           (a)  the offering is subject to regulation in such
                                country by a "foreign financial regulatory
                                authority," as defined in Section 2(a)(50) of
                                the Investment Company Act of 1940;

                           (b)  the securities were offered at a fixed price
                                to all purchasers in the offering (except for
                                any rights to purchase securities that are
                                required by law to be granted to existing
                                security holders of the issuer);

                           (c)  financial statements, prepared and audited as
                                required or permitted by the appropriate
                                foreign financial regulatory authority in such
                                country, for the two years prior to the
                                offering, were made available to the public
                                and prospective purchasers in connection with
                                the offering; and

                           (d)  if the issuer is a "domestic issuer," i.e.,
                                other than a foreign government, a national of
                                any foreign country, or a corporation or other
                                organization incorporated or organized under
                                the laws of any foreign country, it (1) has a
                                class of securities registered pursuant to
                                section 12(b) or 12(g) of the Securities
                                Exchange Act of 1934 or is required to file
                                reports pursuant to section 15(d) of that act,
                                and (2) has filed all the material required to
                                be filed pursuant to section 13(a) or 15(d) of
                                that act for a period of at least 12 months
                                immediately preceding the sale of securities
                                (or for such shorter period that the issuer
                                was required to file such material)

<PAGE>

Rule 10f-3 Report - Definitions


Term                            Definition
Eligible Municipal Securities   The securities:

                                (a)  are direct obligations of, or
                                     obligations guaranteed as to principal
                                     or interest by, a State or any
                                     political subdivision thereof, or any
                                     agency or instrumentality of a State or
                                     any political subdivision thereof, or
                                     any municipal corporate instrumentality
                                     of one or more States, or any security
                                     which is an industrial development bond
                                     (as defined in section 103(c)(2) of
                                     Title 26) the interest on which is
                                     excludable from gross income under
                                     certain provisions of the Internal
                                     Revenue Code;

                                (b)  are sufficiently liquid that they can
                                     be sold at or near their carrying value
                                     within a reasonably short period of
                                     time; and

                                (c)  either

                                     (1)  are subject to no greater than
                                          moderate credit risk; or

                                     (2)  if the issuer of the municipal
                                          securities, or the entity
                                          supplying the revenues or other
                                          payments from which the issue is
                                          to be paid, has been in continuous
                                          operation for less than three
                                          years, including the operation of
                                          any predecessors, the securities
                                          are subject to a minimal or low
                                          amount of credit risk.

                                Also, purchases of municipal securities may
                                not be designated as group sales or
                                otherwise allocated to the account of any
                                prohibited seller (i.e., an affiliated
                                underwriter).

Eligible Rule 144A Offering     The securities are sold in an offering where

                                (a)  the securities are offered or sold in
                                     transactions exempt from registration
                                     under Section 4(2) of the Securities
                                     Act of 1933, Rule 144A thereunder, or
                                     Rules 501-508 thereunder;

                                (b)  the securities were sold to persons
                                     that the seller and any person acting
                                     on behalf of the seller reasonably
                                     believe to include qualified
                                     institutional buyers, as defined in
                                     Rule 144A ("QIBs"); and

                                (c)  the seller and any person acting on
                                     behalf of the seller reasonably believe
                                     that the securities are eligible for
                                     resale to other QIBs pursuant to
                                     Rule 144A.

Government Securities Offering  The security is issued or guaranteed as to
                                principal or interest by the United States,
                                or by a person controlled or supervised by
                                and acting as an instrumentality of the
                                Government of the United States pursuant to
                                authority granted by the Congress of the
                                United States; or any certificate of deposit
                                for any of the foregoing.

<PAGE>

Rule 10f-3 Report - Definitions


Term                              Definition
U.S. Registered Public Offering.  The securities offered are registered under
                                  the Securities Act of 1933 that are being
                                  offered to the public.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77O RULE 10F-3
<SEQUENCE>3
<FILENAME>jarden77o.txt
<TEXT>
<PAGE>

Participating Funds

..  U.S. Registered Funds (Name of Fund, Aladdin Ticker):
   BlackRock Core Bond Trust - High Yield (BHK-HYLD)
   BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD)
   BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD)
   BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD)
   BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY)
   BlackRock Secured Credit Portfolio (BR-MSB)
   BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF)
   BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI)
   BlackRock High Yield V.I. Fund (BVA-HY)
   BlackRock Debt Strategies Fund, Inc. (DSU)
   BlackRock Corporate High Yield Fund, Inc. (HYT)
   MIST BlackRock High Yield Portfolio (MIST-HY)
   AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY)

The Offering

Key Characteristics (Complete ALL Fields)

Date of
Offering Commencement:     10-21-2015

Security Type:             BND/CORP

Issuer                     Jarden Corporation (2023)

Selling Underwriter        Barclays Capital Inc

Affiliated Underwriter(s)  [X] PNC Capital Markets LLC
                           [_] Other:

List of Underwriter(s)     Barclays Capital Inc., Credit Suisse Securities
                           (USA) LLC., UBS Securities LLC, Wells Fargo
                           Securities, LLC, Credit Agricole Securities (USA)
                           Inc., RBC Capital Markets, LLC.., HSBC Securities
                           (USA) Inc., PNC Capital Markets LLC, SunTrust
                           Robinson Humphrey, Inc

Transaction Details

Date of Purchase           10-21-2015

Purchase Price/Share                   Total Commission,
(per share / % of par)         $100.00 Spread or Profit               1.50

1.  Aggregate Principal Amount Purchased (a+b)                    $ 18,000,000
                                                                  ------------
    a.  US Registered Funds
        (Appendix attached with individual Fund/Client purchase)  $  9,774,000
                                                                  ------------
    b.  Other BlackRock Clients                                   $  8,226,000
                                                                  ------------
2.  Aggregate Principal Amount of Offering                        $300,000,000
                                                                  ------------
Fund Ratio
[Divide Sum of #1 by #2]
Must be less than 0.25                                                    0.06
                                                                  ------------

                                                                    Page 1 of 2

<PAGE>

Rule 10f-3 Report - Definitions


Legal Requirements

Offering Type (check ONE)

The securities fall into one of the following transaction types (see
Definitions):

<TABLE>
<C>  <S>                                 <C>
[_]  U.S. Registered Public Offering.... [Issuer must have 3 years of continuous operations]
[X]  Eligible Rule 144A Offering........ [Issuer must have 3 years of continuous operations]
[_]  Eligible Municipal Securities
[_]  Eligible Foreign Offering.......... [Issuer must have 3 years of continuous operations]
[_]  Government Securities Offering..... [Issuer must have 3 years of continuous operations]
</TABLE>

Timing and Price (check ONE or BOTH)

[X]  The securities were purchased before the end of the first day on which
     any sales were made, at a price that was not more than the price paid by
     each other purchaser of securities in that offering or in any concurrent
     offering of the securities; and

[_]  If the securities are offered for subscription upon exercise of rights,
     the securities were purchased on or before the fourth day before the day
     on which the rights offering terminated.

Firm Commitment Offering (check ONE)

[X] YES  The securities were offered pursuant to an underwriting or similar
[_] NO   agreement under which the underwriters were committed to purchase all
         of the securities being offered, except those purchased by others
         pursuant to a rights offering, if the underwriters purchased any of
         the securities.

No Benefit to Affiliated Underwriter (check ONE)

[X] YES  No affiliated underwriter was a direct or indirect participant in, or
[_] NO   benefited directly or indirectly from, the transaction.

Completed by:            Dipankar Banerjee                   Date:  10-27-2015
                         ----------------------------------         -----------
                         Global Syndicate Team Member

Approved by:             Steven DeLaura                      Date:  10-27-2015
                         ----------------------------------         -----------
                         Global Syndicate Team Member

<PAGE>

Rule 10f-3 Report - Definitions

Definitions

Term                       Definition
Fund Ratio                 Number appearing at the bottom of page 1 of 2 of
                           the Rule 10f-3 Report form. It is the sum of the
                           Funds' participation in the offering by the Funds
                           and other accounts managed by BlackRock divided
                           by the total amount of the offering.

Eligible Foreign Offering  The securities are sold in a public offering
                           conducted under the laws of a country other than
                           the United States and

                           (a)  the offering is subject to regulation in
                                such country by a "foreign financial
                                regulatory authority," as defined in
                                Section 2(a)(50) of the Investment Company
                                Act of 1940;

                           (b)  the securities were offered at a fixed price
                                to all purchasers in the offering (except
                                for any rights to purchase securities that
                                are required by law to be granted to
                                existing security holders of the issuer);

                           (c)  financial statements, prepared and audited
                                as required or permitted by the appropriate
                                foreign financial regulatory authority in
                                such country, for the two years prior to the
                                offering, were made available to the public
                                and prospective purchasers in connection
                                with the offering; and

                           (d)  if the issuer is a "domestic issuer," i.e.,
                                other than a foreign government, a national
                                of any foreign country, or a corporation or
                                other organization incorporated or organized
                                under the laws of any foreign country, it
                                (1) has a class of securities registered
                                pursuant to section 12(b) or 12(g) of the
                                Securities Exchange Act of 1934 or is
                                required to file reports pursuant to section
                                15(d) of that act, and (2) has filed all the
                                material required to be filed pursuant to
                                section 13(a) or 15(d) of that act for a
                                period of at least 12 months immediately
                                preceding the sale of securities (or for
                                such shorter period that the issuer was
                                required to file such material)

<PAGE>

Rule 10f-3 Report - Definitions

Term                            Definition
Eligible Municipal Securities   The securities:

                                (a)  are direct obligations of, or
                                     obligations guaranteed as to principal
                                     or interest by, a State or any political
                                     subdivision thereof, or any agency or
                                     instrumentality of a State or any
                                     political subdivision thereof, or any
                                     municipal corporate instrumentality of
                                     one or more States, or any security
                                     which is an industrial development bond
                                     (as defined in section 103(c)(2) of
                                     Title 26) the interest on which is
                                     excludable from gross income under
                                     certain provisions of the Internal
                                     Revenue Code;

                                (b)  are sufficiently liquid that they can be
                                     sold at or near their carrying value
                                     within a reasonably short period of
                                     time; and

                                (c)  either

                                     (1)  are subject to no greater than
                                          moderate credit risk; or

                                     (2)  if the issuer of the municipal
                                          securities, or the entity supplying
                                          the revenues or other payments from
                                          which the issue is to be paid, has
                                          been in continuous operation for
                                          less than three years, including
                                          the operation of any predecessors,
                                          the securities are subject to a
                                          minimal or low amount of credit
                                          risk.

                                Also, purchases of municipal securities may
                                not be designated as group sales or otherwise
                                allocated to the account of any prohibited
                                seller (i.e., an affiliated underwriter).

Eligible Rule 144A Offering     The securities are sold in an offering where

                                (a)  the securities are offered or sold in
                                     transactions exempt from registration
                                     under Section 4(2) of the Securities Act
                                     of 1933, Rule 144A thereunder, or
                                     Rules 501-508 thereunder;

                                (b)  the securities were sold to persons that
                                     the seller and any person acting on
                                     behalf of the seller reasonably believe
                                     to include qualified institutional
                                     buyers, as defined in Rule 144A
                                     ("QIBs"); and

                                (c)  the seller and any person acting on
                                     behalf of the seller reasonably believe
                                     that the securities are eligible for
                                     resale to other QIBs pursuant to
                                     Rule 144A.

Government Securities Offering  The security is issued or guaranteed as to
                                principal or interest by the United States,
                                or by a person controlled or supervised by
                                and acting as an instrumentality of the
                                Government of the United States pursuant to
                                authority granted by the Congress of the
                                United States; or any certificate of deposit
                                for any of the foregoing.

<PAGE>

Rule 10f-3 Report - Definitions

Term                              Definition
U.S. Registered Public Offering.  The securities offered are registered under
                                  the Securities Act of 1933 that are being
                                  offered to the public.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77O RULE 10F-3
<SEQUENCE>4
<FILENAME>mallin77o.txt
<TEXT>
<PAGE>

Participating Funds

..  U.S. Registered Funds (Name of Fund, Aladdin Ticker):
   iShares iBoxx $ High Yield Corporate Bond ETF (ISHHYLD)
   BlackRock Core Bond Trust - High Yield (BHK-HYLD)
   BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD)
   BlackRock Limited Duration Income Trust (BLW)
   BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC)
   BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD)
   BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY)
   BlackRock Multi-Asset Income - Passive High Yield Portfolio (BR-INC-PHY)
   BlackRock Secured Credit Portfolio (BR-MSB)
   BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF)
   BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI)
   BlackRock High Yield V.I. Fund (BVA-HY)
   BlackRock Debt Strategies Fund, Inc. (DSU)
   BlackRock Corporate High Yield Fund, Inc. (HYT)
   MIST BlackRock High Yield Portfolio (MIST-HY)
   AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY)
   JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC)
   UBS PACE Intermediate Fixed Income Investments Portfolio (UBS-PACE)

The Offering

Key Characteristics (Complete ALL Fields)

Date of
Offering Commencement:     09-09-2015

Security Type:             BND/CORP

Issuer                     Mallinckrodt International Finance S.A. and
                           Mallinckrodt CB LLC (2023)

Selling Underwriter        Barclays Capital Inc.

Affiliated Underwriter(s)  [X] PNC Capital Markets LLC
                           [_] Other:

List of Underwriter(s)     Barclays Capital Inc., Deutsche Bank Securities
                           Inc., Citigroup Global Markets Inc., Goldman, Sachs
                           & Co., Wells Fargo Securities, LLC., Mizuho
                           Securities USA Inc., PNC Capital Markets LLC,
                           SunTrust Robinson Humphrey, Inc.

Transaction Details

Date of Purchase           09-09-2015

Purchase Price/Share           $100.00 Total Commission,
(per share / % of par)                 Spread or Profit               1.50

                                                                    Page 1 of 2

<PAGE>

Rule 10f-3 Report - Definitions

1.  Aggregate Principal Amount Purchased (a+b)                    $ 60,000,000
                                                                  ------------
    a.  US Registered Funds
        (Appendix attached with individual Fund/Client purchase)  $ 36,439,000
                                                                  ------------
    b.  Other BlackRock Clients                                   $ 23,561,000
                                                                  ------------
2.  Aggregate Principal Amount of Offering                        $750,000,000
                                                                  ------------
Fund Ratio
[Divide Sum of #1 by #2]
Must be less than 0.25                                                    0.08
                                                                  ------------

<PAGE>

Rule 10f-3 Report - Definitions


Legal Requirements

Offering Type (check ONE)

The securities fall into one of the following transaction types (see
Definitions):

<TABLE>
<C>  <S>                                      <C>
[_]  U.S. Registered Public Offering......... [Issuer must have 3 years of continuous operations]
[X]  Eligible Rule 144A Offering............. [Issuer must have 3 years of continuous operations]
[_]  Eligible Municipal Securities
[_]  Eligible Foreign Offering............... [Issuer must have 3 years of continuous operations]
[_]  Government Securities Offering.......... [Issuer must have 3 years of continuous operations]
</TABLE>

Timing and Price (check ONE or BOTH)

[X]  The securities were purchased before the end of the first day on which
     any sales were made, at a price that was not more than the price paid by
     each other purchaser of securities in that offering or in any concurrent
     offering of the securities; and

[_]  If the securities are offered for subscription upon exercise of rights,
     the securities were purchased on or before the fourth day before the day
     on which the rights offering terminated.

Firm Commitment Offering (check ONE)

[X] YES  The securities were offered pursuant to an underwriting or similar
[_] NO   agreement under which the underwriters were committed to purchase all
         of the securities being offered, except those purchased by others
         pursuant to a rights offering, if the underwriters purchased any of
         the securities.

No Benefit to Affiliated Underwriter (check ONE)

[X] YES  No affiliated underwriter was a direct or indirect participant in, or
[_] NO   benefited directly or indirectly from, the transaction.

Completed by:            Dillip Behera                       Date:  09-11-2015
                         ----------------------------------         -----------
                         Global Syndicate Team Member

Approved by:             Steven DeLaura                      Date:  09-11-2015
                         ----------------------------------         -----------
                         Global Syndicate Team Member

<PAGE>

Rule 10f-3 Report - Definitions

Definitions

Term                       Definition
Fund Ratio                 Number appearing at the bottom of page 1 of 2 of
                           the Rule 10f-3 Report form. It is the sum of the
                           Funds' participation in the offering by the Funds
                           and other accounts managed by BlackRock divided by
                           the total amount of the offering.

Eligible Foreign Offering  The securities are sold in a public offering
                           conducted under the laws of a country other than
                           the United States and

                           (a)  the offering is subject to regulation in such
                                country by a "foreign financial regulatory
                                authority," as defined in Section 2(a)(50) of
                                the Investment Company Act of 1940;

                           (b)  the securities were offered at a fixed price
                                to all purchasers in the offering (except for
                                any rights to purchase securities that are
                                required by law to be granted to existing
                                security holders of the issuer);

                           (c)  financial statements, prepared and audited as
                                required or permitted by the appropriate
                                foreign financial regulatory authority in such
                                country, for the two years prior to the
                                offering, were made available to the public
                                and prospective purchasers in connection with
                                the offering; and

                           (d)  if the issuer is a "domestic issuer," i.e.,
                                other than a foreign government, a national of
                                any foreign country, or a corporation or other
                                organization incorporated or organized under
                                the laws of any foreign country, it (1) has a
                                class of securities registered pursuant to
                                section 12(b) or 12(g) of the Securities
                                Exchange Act of 1934 or is required to file
                                reports pursuant to section 15(d) of that act,
                                and (2) has filed all the material required to
                                be filed pursuant to section 13(a) or 15(d) of
                                that act for a period of at least 12 months
                                immediately preceding the sale of securities
                                (or for such shorter period that the issuer
                                was required to file such material)

<PAGE>

Rule 10f-3 Report - Definitions

Term                            Definition
Eligible Municipal Securities   The securities:

                                (a)  are direct obligations of, or
                                     obligations guaranteed as to principal
                                     or interest by, a State or any political
                                     subdivision thereof, or any agency or
                                     instrumentality of a State or any
                                     political subdivision thereof, or any
                                     municipal corporate instrumentality of
                                     one or more States, or any security
                                     which is an industrial development bond
                                     (as defined in section 103(c)(2) of
                                     Title 26) the interest on which is
                                     excludable from gross income under
                                     certain provisions of the Internal
                                     Revenue Code;

                                (b)  are sufficiently liquid that they can be
                                     sold at or near their carrying value
                                     within a reasonably short period of
                                     time; and

                                (c)  either

                                     (1)  are subject to no greater than
                                          moderate credit risk; or

                                     (2)  if the issuer of the municipal
                                          securities, or the entity supplying
                                          the revenues or other payments from
                                          which the issue is to be paid, has
                                          been in continuous operation for
                                          less than three years, including
                                          the operation of any predecessors,
                                          the securities are subject to a
                                          minimal or low amount of credit
                                          risk.

                                Also, purchases of municipal securities may
                                not be designated as group sales or otherwise
                                allocated to the account of any prohibited
                                seller (i.e., an affiliated underwriter).

Eligible Rule 144A Offering     The securities are sold in an offering where

                                (a)  the securities are offered or sold in
                                     transactions exempt from registration
                                     under Section 4(2) of the Securities Act
                                     of 1933, Rule 144A thereunder, or
                                     Rules 501-508 thereunder;

                                (b)  the securities were sold to persons that
                                     the seller and any person acting on
                                     behalf of the seller reasonably believe
                                     to include qualified institutional
                                     buyers, as defined in Rule 144A
                                     ("QIBs"); and

                                (c)  the seller and any person acting on
                                     behalf of the seller reasonably believe
                                     that the securities are eligible for
                                     resale to other QIBs pursuant to
                                     Rule 144A.

Government Securities Offering  The security is issued or guaranteed as to
                                principal or interest by the United States,
                                or by a person controlled or supervised by
                                and acting as an instrumentality of the
                                Government of the United States pursuant to
                                authority granted by the Congress of the
                                United States; or any certificate of deposit
                                for any of the foregoing.

<PAGE>

Rule 10f-3 Report - Definitions

Term                              Definition
U.S. Registered Public Offering.  The securities offered are registered under
                                  the Securities Act of 1933 that are being
                                  offered to the public.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77O RULE 10F-3
<SEQUENCE>5
<FILENAME>reynold77o.txt
<TEXT>
<PAGE>

PARTICIPATING FUNDS

..  U.S. Registered Funds (Name of Fund, Aladdin Ticker):
   ISHARES CORE U.S. AGGREGATE BOND ETF (ISHAGG)
   ISHARES CORE U.S. CREDIT BOND ETF (ISHCRED)
   ISHARES 10+ YEAR CREDIT BOND ETF (ISHLCRD)
   AZL Enhanced Bond Index Fund (AZ-CORE)
   BlackRock Multi-Sector Income Trust (BIT)
   BlackRock Dynamic High Income--Preferred Stock Portfolio (BR-DHI-PS)
   BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC)
   BlackRock Investment Grade Bond Portfolio (BR-IG)
   BlackRock Multi-Asset Income--Global IG Corporates (BR-INC-IGD)
   BlackRock Multi-Asset Income--Preferred Stock Portfolio (BR-INC-PS)
   BlackRock World Income Fund, Inc. (BR-WI)
   BlackRock Managed Volatility--Fixed Income Portfolio (BR_AA_FI)
   BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF)
   CoreAlpha Bond Master Portfolio (MIP_CORA)
   AST BlackRock Global Strategies Portfolio (Core Active) (PRU-AA-CAB)
   JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC)

THE OFFERING

KEY CHARACTERISTICS (COMPLETE ALL FIELDS)

Date of Offering Commencement:  06-09-2015

Security Type:                  BND/CORP

Issuer                          Reynolds American Inc. (2045)

Selling Underwriter             Citigroup Global Markets Inc.

Affiliated Underwriter(s)       [X] PNC Capital Markets LLC
                                [_] Other:

List of Underwriter(s)          Citigroup Global Markets Inc., J.P.
                                Morgan Securities LLC, Credit Suisse
                                Securities (USA) LLC, Goldman, Sachs
                                & Co., Mizuho Securities USA Inc.,
                                RBC Capital Markets, LLC, Scotia
                                Capital (USA) Inc., Fifth Third
                                Securities, Inc., Wells Fargo
                                Securities, LLC, PNC Capital Markets
                                LLC, BNY Mellon Capital Markets, LLC,
                                The Williams Capital Group, L.P.

TRANSACTION DETAILS

<TABLE>
<S>                                                <C>         <C>               <C>
Date of Purchase                                    06-09-2015
Purchase Price/Share                                           Total Commission,
(per share / % of par)                             $    99.476 Spread or Profit         0.875%
1. Aggregate Principal Amount Purchased (a+b)                                    $125,000,000
   a.  US Registered Funds (Appendix attached
       with individual Fund/Client purchase)                                     $ 13,930,000
</TABLE>

                                                                    Page 1 of 2

<PAGE>

Rule 10f-3 Report - Definitions

<TABLE>
<S>                                                         <C>
    b. Other BlackRock Clients                              $  111,070,000
2. Aggregate Principal Amount of Offering                   $2,250,000,000
FUND RATIO [Divide Sum of #1 by #2] Must be less than 0.25         0.05555
</TABLE>

<PAGE>

Rule 10f-3 Report - Definitions

LEGAL REQUIREMENTS

OFFERING TYPE (CHECK ONE)

The securities fall into one of the following transaction types (see
Definitions):

[X]  U.S. Registered Public Offering      [Issuer must have 3 years of
                                          continuous operations]
[_]  Eligible Rule 144A Offering          [Issuer must have 3 years of
                                          continuous operations]
[_]  Eligible Municipal Securities
[_]  Eligible Foreign Offering            [Issuer must have 3 years of
                                          continuous operations]
[_]  Government Securities Offering       [Issuer must have 3 years of
                                          continuous operations]

TIMING AND PRICE (CHECK ONE OR BOTH)

[X]  The securities were purchased before the end of the first day on which any
     sales were made, at a price that was not more than the price paid by each
     other purchaser of securities in that offering or in any concurrent
     offering of the securities; and

[_]  If the securities are offered for subscription upon exercise of rights,
     the securities were purchased on or before the fourth day before the day
     on which the rights offering terminated.

FIRM COMMITMENT OFFERING (CHECK ONE)

[X] YES    The securities were offered pursuant to an underwriting or similar
[_] NO     agreement under which the underwriters were committed to purchase
           all of the securities being offered, except those purchased by
           others pursuant to a rights offering, if the underwriters
           purchased any of the securities.

NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE)

[X] YES    No affiliated underwriter was a direct or indirect participant in,
[_] NO     or benefited directly or indirectly from, the transaction.

Completed by:   Dillip Behera                              Date: 06-12-2015
                -----------------------------------------
                Global Syndicate Team Member

Approved by:    Steven DeLaura                             Date: 06-12-2015
                -----------------------------------------
                Global Syndicate Team Member

<PAGE>

Rule 10f-3 Report - Definitions

DEFINITIONS

TERM                                           DEFINITION
-------------------------- ---------------------------------------------------
Fund Ratio                 Number appearing at the bottom of page 1 of 2 of
                           the Rule 10f-3 Report form. It is the sum of the
                           Funds' participation in the offering by the Funds
                           and other accounts managed by BlackRock divided by
                           the total amount of the offering.

Eligible Foreign Offering  The securities are sold in a public offering
                           conducted under the laws of a country other than
                           the United States and

                           (a)  the offering is subject to regulation in such
                                country by a "foreign financial regulatory
                                authority," as defined in Section 2(a)(50) of
                                the Investment Company Act of 1940;

                           (b)  the securities were offered at a fixed price
                                to all purchasers in the offering (except for
                                any rights to purchase securities that are
                                required by law to be granted to existing
                                security holders of the issuer);

                           (c)  financial statements, prepared and audited as
                                required or permitted by the appropriate
                                foreign financial regulatory authority in such
                                country, for the two years prior to the
                                offering, were made available to the public
                                and prospective purchasers in connection with
                                the offering; and

                           (d)  if the issuer is a "domestic issuer," i.e.,
                                other than a foreign government, a national of
                                any foreign country, or a corporation or other
                                organization incorporated or organized under
                                the laws of any foreign country, it (1) has a
                                class of securities registered pursuant to
                                section 12(b) or 12(g) of the Securities
                                Exchange Act of 1934 or is required to file
                                reports pursuant to section 15(d) of that act,
                                and (2) has filed all the material required to
                                be filed pursuant to section 13(a) or 15(d) of
                                that act for a period of at least 12 months
                                immediately preceding the sale of securities
                                (or for such shorter period that the issuer
                                was required to file such material)

<PAGE>

Rule 10f-3 Report - Definitions

TERM                                             DEFINITION
------------------------------- --------------------------------------------
Eligible Municipal Securities   The securities:

                                (a)  are direct obligations of, or
                                     obligations guaranteed as to principal
                                     or interest by, a State or any
                                     political subdivision thereof, or any
                                     agency or instrumentality of a State or
                                     any political subdivision thereof, or
                                     any municipal corporate instrumentality
                                     of one or more States, or any security
                                     which is an industrial development bond
                                     (as defined in section 103(c)(2) of
                                     Title 26) the interest on which is
                                     excludable from gross income under
                                     certain provisions of the Internal
                                     Revenue Code;

                                (b)  are sufficiently liquid that they can
                                     be sold at or near their carrying value
                                     within a reasonably short period of
                                     time; and

                                (c)  either

                                     (1)  are subject to no greater than
                                          moderate credit risk; or

                                     (2)  if the issuer of the municipal
                                          securities, or the entity
                                          supplying the revenues or other
                                          payments from which the issue is
                                          to be paid, has been in continuous
                                          operation for less than three
                                          years, including the operation of
                                          any predecessors, the securities
                                          are subject to a minimal or low
                                          amount of credit risk.

                                Also, purchases of municipal securities may
                                not be designated as group sales or
                                otherwise allocated to the account of any
                                prohibited seller (i.e., an affiliated
                                underwriter).

Eligible Rule 144A Offering     The securities are sold in an offering where

                                (a)  the securities are offered or sold in
                                     transactions exempt from registration
                                     under Section 4(2) of the Securities
                                     Act of 1933, Rule 144A thereunder, or
                                     Rules 501-508 thereunder;

                                (b)  the securities were sold to persons
                                     that the seller and any person acting
                                     on behalf of the seller reasonably
                                     believe to include qualified
                                     institutional buyers, as defined in
                                     Rule 144A ("QIBs"); and

                                (c)  the seller and any person acting on
                                     behalf of the seller reasonably believe
                                     that the securities are eligible for
                                     resale to other QIBs pursuant to Rule
                                     144A.

Government Securities Offering  The security is issued or guaranteed as to
                                principal or interest by the United States,
                                or by a person controlled or supervised by
                                and acting as an instrumentality of the
                                Government of the United States pursuant to
                                authority granted by the Congress of the
                                United States; or any certificate of deposit
                                for any of the foregoing.

<PAGE>

Rule 10f-3 Report - Definitions

TERM                                               DEFINITION
--------------------------------- --------------------------------------------
U.S. Registered Public Offering.  The securities offered are registered under
                                  the Securities Act of 1933 that are being
                                  offered to the public.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77O RULE 10F-3
<SEQUENCE>6
<FILENAME>toll77o.txt
<TEXT>
<PAGE>

PARTICIPATING FUNDS

..  U.S. Registered Funds (Name of Fund, Aladdin Ticker):
   BlackRock Core Bond Trust--High Yield (BHK-HYLD)
   BlackRock Multi-Sector Income Trust--High Yield (BIT-HYLD)
   BlackRock Limited Duration Income Trust--High Yield (BLW-HYLD)
   BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD)
   BlackRock Multi-Asset Income--High Yield Portfolio (BR-INC-HY)
   BlackRock Secured Credit Portfolio (BR-MSB)
   BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF)
   BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI)
   BlackRock High Yield V.I. Fund (BVA-HY)
   BlackRock Debt Strategies Fund, Inc. (DSU)
   BlackRock Corporate High Yield Fund, Inc. (HYT)
   MIST BlackRock High Yield Portfolio (MIST-HY)
   AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY)

THE OFFERING

KEY CHARACTERISTICS (COMPLETE ALL FIELDS)

Date of Offering Commencement:  10-27-2015

Security Type:                  BND/CORP

Issuer                          Toll Brothers Finance Corp. (2025)

Selling Underwriter             Deutsche Bank Securities Inc.

Affiliated Underwriter(s)       [X] PNC Capital Markets LLC
                                [_] Other:

List of Underwriter(s)          Citigroup Global Markets Inc., Deutsche Bank
                                Securities Inc., Mizuho Securities USA Inc.,
                                SunTrust Robinson Humphrey, Inc., PNC Capital
                                Markets LLC, Capital One Securities, Inc.,
                                U.S. Bancorp Investments, Inc., Wells Fargo
                                Securities, LLC, Comerica Securities, Inc.,
                                Fifth Third Securities, Inc., Regions
                                Securities LLC, SMBC Nikko Securities America,
                                Inc., TD Securities (USA) LLC

TRANSACTION DETAILS

<TABLE>
<S>                                                <C>         <C>               <C>
Date of Purchase                                    10-27-2015
Purchase Price/Share                                           Total Commission,
(per share / % of par)                             $    100.00 Spread or Profit        0.650
1. Aggregate Principal Amount Purchased (a+b)                                    $20,000,000
   a.  US Registered Funds (Appendix attached
       with individual Fund/Client purchase)                                     $10,903,000
   b.  Other BlackRock Clients                                                   $ 9,097,000
</TABLE>

                                                                    Page 1 of 2

<PAGE>

Rule 10f-3 Report - Definitions

<TABLE>
<S>                                                            <C>
2. Aggregate Principal Amount of Offering                      $350,000,000

FUND RATIO
[Divide Sum of #1 by #2] Must be less than 0.25                     0.05714
</TABLE>

<PAGE>

Rule 10f-3 Report - Definitions

LEGAL REQUIREMENTS

OFFERING TYPE (CHECK ONE)

The securities fall into one of the following transaction types (see
Definitions):

[X]  U.S. Registered Public Offering      [Issuer must have 3 years of
                                          continuous operations]
[_]  Eligible Rule 144A Offering          [Issuer must have 3 years of
                                          continuous operations]
[_]  Eligible Municipal Securities
[_]  Eligible Foreign Offering            [Issuer must have 3 years of
                                          continuous operations]
[_]  Government Securities Offering       [Issuer must have 3 years of
                                          continuous operations]

TIMING AND PRICE (CHECK ONE OR BOTH)

[X]  The securities were purchased before the end of the first day on which any
     sales were made, at a price that was not more than the price paid by each
     other purchaser of securities in that offering or in any concurrent
     offering of the securities; and

[_]  If the securities are offered for subscription upon exercise of rights,
     the securities were purchased on or before the fourth day before the day
     on which the rights offering terminated.

FIRM COMMITMENT OFFERING (CHECK ONE)

[X] YES        The securities were offered pursuant to an underwriting or
[_] NO         similar agreement under which the underwriters were committed
               to purchase all of the securities being offered, except those
               purchased by others pursuant to a rights offering, if the
               underwriters purchased any of the securities.

NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE)

[X] YES       No affiliated underwriter was a direct or indirect
[_] NO        participant in, or benefited directly or indirectly from, the
              transaction.

Completed by:   Dillip Behera                              Date: 10-29-2015
                -----------------------------------------
                Global Syndicate Team Member

Approved by:    Steven DeLaura                             Date:10-29-2015
                -----------------------------------------
                Global Syndicate Team Member

<PAGE>

Rule 10f-3 Report - Definitions

DEFINITIONS

TERM                                           DEFINITION
-------------------------- ---------------------------------------------------
Fund Ratio                 Number appearing at the bottom of page 1 of 2 of
                           the Rule 10f-3 Report form. It is the sum of the
                           Funds' participation in the offering by the Funds
                           and other accounts managed by BlackRock divided by
                           the total amount of the offering.

Eligible Foreign Offering  The securities are sold in a public offering
                           conducted under the laws of a country other than
                           the United States and

                           (a)  the offering is subject to regulation in such
                                country by a "foreign financial regulatory
                                authority," as defined in Section 2(a)(50) of
                                the Investment Company Act of 1940;

                           (b)  the securities were offered at a fixed price
                                to all purchasers in the offering (except for
                                any rights to purchase securities that are
                                required by law to be granted to existing
                                security holders of the issuer);

                           (c)  financial statements, prepared and audited as
                                required or permitted by the appropriate
                                foreign financial regulatory authority in such
                                country, for the two years prior to the
                                offering, were made available to the public
                                and prospective purchasers in connection with
                                the offering; and

                           (d)  if the issuer is a "domestic issuer," i.e.,
                                other than a foreign government, a national of
                                any foreign country, or a corporation or other
                                organization incorporated or organized under
                                the laws of any foreign country, it (1) has a
                                class of securities registered pursuant to
                                section 12(b) or 12(g) of the Securities
                                Exchange Act of 1934 or is required to file
                                reports pursuant to section 15(d) of that act,
                                and (2) has filed all the material required to
                                be filed pursuant to section 13(a) or 15(d) of
                                that act for a period of at least 12 months
                                immediately preceding the sale of securities
                                (or for such shorter period that the issuer
                                was required to file such material)

<PAGE>

Rule 10f-3 Report - Definitions

TERM                                              DEFINITION
------------------------------- -----------------------------------------------
Eligible Municipal Securities   The securities:

                                (a)  are direct obligations of, or
                                     obligations guaranteed as to principal
                                     or interest by, a State or any political
                                     subdivision thereof, or any agency or
                                     instrumentality of a State or any
                                     political subdivision thereof, or any
                                     municipal corporate instrumentality of
                                     one or more States, or any security
                                     which is an industrial development bond
                                     (as defined in section 103(c)(2) of
                                     Title 26) the interest on which is
                                     excludable from gross income under
                                     certain provisions of the Internal
                                     Revenue Code;

                                (b)  are sufficiently liquid that they can be
                                     sold at or near their carrying value
                                     within a reasonably short period of
                                     time; and

                                (c)  either

                                     (1)  are subject to no greater than
                                          moderate credit risk; or

                                     (2)  if the issuer of the municipal
                                          securities, or the entity supplying
                                          the revenues or other payments from
                                          which the issue is to be paid, has
                                          been in continuous operation for
                                          less than three years, including
                                          the operation of any predecessors,
                                          the securities are subject to a
                                          minimal or low amount of credit risk.

                                Also, purchases of municipal securities may
                                not be designated as group sales or otherwise
                                allocated to the account of any prohibited
                                seller (i.e., an affiliated underwriter).

Eligible Rule 144A Offering     The securities are sold in an offering where

                                (a)  the securities are offered or sold in
                                     transactions exempt from registration
                                     under Section 4(2) of the Securities Act
                                     of 1933, Rule 144A thereunder, or Rules
                                     501-508 thereunder;

                                (b)  the securities were sold to persons that
                                     the seller and any person acting on
                                     behalf of the seller reasonably believe
                                     to include qualified institutional
                                     buyers, as defined in Rule 144A
                                     ("QIBs"); and

                                (c)  the seller and any person acting on
                                     behalf of the seller reasonably believe
                                     that the securities are eligible for
                                     resale to other QIBs pursuant to Rule
                                     144A.

Government Securities Offering  The security is issued or guaranteed as to
                                principal or interest by the United States,
                                or by a person controlled or supervised by
                                and acting as an instrumentality of the
                                Government of the United States pursuant to
                                authority granted by the Congress of the
                                United States; or any certificate of deposit
                                for any of the foregoing.

<PAGE>

Rule 10f-3 Report - Definitions

TERM                                               DEFINITION
--------------------------------- --------------------------------------------
U.S. Registered Public Offering.  The securities offered are registered under
                                  the Securities Act of 1933 that are being
                                  offered to the public.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>7
<FILENAME>tax377b.txt
<TEXT>
<PAGE>

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board of Trustees of BlackRock Credit Allocation Income
Trust, BlackRock Floating Rate Income Trust, and BlackRock Multi-Sector Income
Trust:

In planning and performing our audits of the financial statements of BlackRock
Credit Allocation Income Trust, BlackRock Floating Rate Income Trust, and
BlackRock Multi-Sector Income Trust (the "Trusts"), as of and for the year
ended October 31, 2015, in accordance with the standards of the Public Company
Accounting Oversight Board (United States), we considered the Trusts' internal
control over financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, but not for the purpose of expressing an opinion on
the effectiveness of the Trusts' internal control over financial reporting.
Accordingly, we express no such opinion.

The management of the Trusts is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. A trust's internal control
over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally
accepted accounting principles. A trust's internal control over financial
reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the trust;
(2) provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the trust
are being made only in accordance with authorizations of management and
trustees of the trust; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition
of a trust's assets that could have a material effect on the financial
statements.

Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions or that the degree of
compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the
design or operation of a control does not allow management or employees, in the
normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial reporting, such
that there is a reasonable possibility that a material misstatement of the
trusts' annual or interim financial statements will not be prevented or
detected on a timely basis.

Our consideration of the Trusts' internal control over financial reporting was
for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control that might be
material weaknesses under standards established by the Public Company
Accounting Oversight Board (United States). However, we noted no deficiencies
in the Trusts' internal control over financial reporting and their operation,
including controls for safeguarding securities that we consider to be a
material weakness, as defined above, as of October 31, 2015.

This report is intended solely for the information and use of management and
the Board of Trustees of the BlackRock Credit Allocation Income Trust,
BlackRock Floating Rate Income Trust, and BlackRock Multi-Sector Income Trust
and the Securities and Exchange Commission and is not intended to be and should
not be used by anyone other than these specified parties.

/s/ Deloitte & Touche LLP
Boston, Massachusetts
December 23, 2015
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
