<SEC-DOCUMENT>0001193125-22-079336.txt : 20220420
<SEC-HEADER>0001193125-22-079336.hdr.sgml : 20220420
<ACCEPTANCE-DATETIME>20220318143153
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-22-079336
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220318

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK Ltd DURATION INCOME TRUST
		CENTRAL INDEX KEY:			0001233681
		IRS NUMBER:				200096695
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-227

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK LTD DURATION INCOME TRUST
		DATE OF NAME CHANGE:	20041103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK LIMITED DURATION INCOME TRUST
		DATE OF NAME CHANGE:	20030611

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MANAGED DURATION INCOME TRUST
		DATE OF NAME CHANGE:	20030529
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>Blackrock Limited Duration Income Trust</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="23%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top">


<IMG SRC="g298696g0318095202209.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">787 Seventh Avenue</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">New York, NY 10019-6099</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">Tel: 212 728 8000</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman">Fax: 212 728 8111</P></TD></TR>
</TABLE> <P STYLE="margin-top:60pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">March&nbsp;18, 2022 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B><U>VIA
EDGAR</U> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">David L. Orlic </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Division of Investment
Management </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">100 F Street,
NE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Washington, DC 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">BlackRock Limited Duration Income Trust </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:12pt; font-family:Times New Roman"><U>(Securities Act File No.</U><U></U><U>&nbsp;333-262366, Investment Company Act File
No.</U><U></U><U><FONT STYLE="white-space:nowrap">&nbsp;811-21349)</FONT></U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:12pt; font-family:Times New Roman"><U>Response to Staff Comments</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Dear Mr. Orlic: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">On behalf of BlackRock Limited Duration Income
Trust (the &#147;Fund&#148;), this letter responds to comments provided by the staff of the Division of Investment Management (the &#147;Staff&#148;) of the Securities and Exchange Commission (the &#147;Commission&#148;) to the undersigned and
Mr.&nbsp;David&nbsp;C. Howe via telephone on March&nbsp;1, 2022 regarding the registration statement on Form <FONT STYLE="white-space:nowrap">N-2</FONT> (the &#147;Registration Statement&#148;) for the Fund filed on January&nbsp;27, 2022. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">For the convenience of the Staff, the comments are set out below. We have discussed the Staff&#146;s comments with representatives of the Fund. The
Fund&#146;s responses to the Staff&#146;s comments are set out immediately under the restated comment. Please note that we have not independently verified information provided by the Fund. The Fund anticipates filing these changes in a <FONT
STYLE="white-space:nowrap">Pre-Effective</FONT> Amendment (the &#147;Amendment&#148;) to the Registration Statement. Unless otherwise indicated, defined terms used herein have the meanings set forth in the Registration Statement and page number
references are those of the Registration Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B><I>Disclosure Staff Comments </I></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;1</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus&#151;Base Prospectus Cover Page. Please include a statement on the cover page of the Prospectus
stating the Fund&#146;s average portfolio duration.</I> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The requested revision will be made in the Amendment. </P></TD></TR></TABLE>
<P STYLE="margin-top:60pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">B<SMALL>RUSSELS</SMALL> &nbsp;&nbsp;&nbsp;&nbsp;C<SMALL>HICAGO</SMALL> &nbsp;&nbsp;&nbsp;&nbsp;F<SMALL>RANKFURT</SMALL>
&nbsp;&nbsp;&nbsp;&nbsp;H<SMALL>OUSTON</SMALL> &nbsp;&nbsp;&nbsp;&nbsp;L<SMALL>ONDON</SMALL> &nbsp;&nbsp;&nbsp;&nbsp;L<SMALL>OS</SMALL> A<SMALL>NGELES</SMALL> &nbsp;&nbsp;&nbsp;&nbsp;M<SMALL>ILAN</SMALL> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">N<SMALL>EW</SMALL> Y<SMALL>ORK</SMALL> &nbsp;&nbsp;&nbsp;&nbsp;P<SMALL>ALO</SMALL> A<SMALL>LTO</SMALL>
&nbsp;&nbsp;&nbsp;&nbsp;P<SMALL>ARIS</SMALL> &nbsp;&nbsp;&nbsp;&nbsp;R<SMALL>OME</SMALL> &nbsp;&nbsp;&nbsp;&nbsp;S<SMALL>AN</SMALL> F<SMALL>RANCISCO</SMALL> &nbsp;&nbsp;&nbsp;&nbsp;W<SMALL>ASHINGTON</SMALL> </P>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">March 18, 2022 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman"> Page
 2
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;2</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus&#151;Base Prospectus Cover Page; Prospectus Supplements. Please revise the cover page of the
Prospectus and Prospectus Supplements to cross-reference the risk factors addressing leverage.</I> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The requested revision will be made in the Amendment. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;3</U>:<I></I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus&#151;Summary of Trust Expenses. Please fix the formatting on the line item in the fee table for
Management Fees.</I> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The requested revision will be made in the Amendment. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;4</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus&#151;Summary of Trust Expenses. Please confirm whether the $2.50 sales fee and $0.15 per share
fee discussed in footnote 2 are brokerage fees, as Form <FONT STYLE="white-space:nowrap">N-2</FONT> does not require a discussion of brokerage fees to be included here. If the $2.50 sales fee is not a brokerage fee, it should be reflected in the fee
table.</I> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:<I></I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I></I>The $2.50 fee identified in footnote 2 is a sales fee and the $0.15 per share fee identified in footnote
2 is a per share sold brokerage commission fee. While Form <FONT STYLE="white-space:nowrap">N-2</FONT> does not require inclusion of brokerage fees for Dividend Reinvestment and Cash Purchase Plan Fees, the Fund believes that disclosure of the $0.15
per share sold brokerage commission fee is informative to investors and notes that such disclosure is consistent with the disclosure regarding the dividend reinvestment plan in the Fund&#146;s annual report to shareholders. While the Fund
respectfully disagrees with the Staff&#146;s position that Form <FONT STYLE="white-space:nowrap">N-2</FONT> requires inclusion of the $2.50 sales fee in the fee table, the $2.50 sales fee will be reflected in the fee table in the Amendment to
address the Staff&#146;s comment. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;5</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus&#151;The Trust&#146;s Investments&#151;Summary of Trust Expenses. Please confirm whether the
management fee waiver discussed in footnote 4 is subject to recoupment.</I> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The Fund confirms that the management fee waiver is not subject to recoupment. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;6</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus&#151;The Trust&#146;s Investments&#151;Portfolio Contents and Techniques. Please confirm whether
the Fund invests in contingent convertible securities (&#147;CoCos&#148;) and, if so, please add disclosure regarding CoCos.</I> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The Fund confirms that it invests in CoCos and, accordingly, has added strategy and risk disclosure addressed
to its investments in CoCos. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;7</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus&#151;Risks&#151;Other Risks. Please supplement the risk factors entitled &#147;Zero Coupon
Securities Risk&#148; and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#147;Pay-In-Kind</FONT></FONT> Bonds Risk&#148; as necessary to ensure that the following risks associated with investments in such instruments are
disclosed:</I> </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">March 18, 2022 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman"> Page
 3
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="28%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I>a.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>The higher yields and interest rates on original issue discount (&#147;OID&#148;) and <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">pay-in-kind</FONT></FONT> (&#147;PIK&#148;) securities reflects the payment deferral and increased credit risk associated with such instruments and that such investments may represent a
significantly higher credit risk than coupon loans. </I></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="28%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I>b.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>OID and PIK securities may have unreliable valuations because their continuing accruals require continuing
judgments about the collectability of the deferred payments and the value of any associated collateral. </I></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="28%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I>c.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>OID instruments generally represent a significantly higher credit risk than coupon loans.
</I></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="28%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I>d.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>PIK interest has the effect of generating investment income and increasing the incentive fees payable at a
compounding rate. In addition, the deferral of PIK interest also reduces the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">loan-to-value</FONT></FONT> ratio at a compounding rate. </I></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="28%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I>e.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>OID and PIK securities create the risk that incentive fees will be paid to the investment adviser based on <FONT
STYLE="white-space:nowrap">non-cash</FONT> accruals that ultimately may not be realized, but the investment adviser will be under no obligation to reimburse the fund for these fees. </I></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">With respect to items (a)&nbsp;and (c), the Fund submits that the following disclosure is currently included
under &#147;The Trust&#146;s Investments&#151;Portfolio Contents and&nbsp;Techniques&#151;Zero-Coupon Bonds, <FONT STYLE="white-space:nowrap">Step-Ups</FONT> and
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Pay-in-Kind</FONT></FONT> Securities: &#147;Zero-coupon bonds, <FONT STYLE="white-space:nowrap">step-ups</FONT> and PIKs allow an issuer to avoid or delay the need to generate cash to
meet current interest payments and, as a result, may involve greater credit risk than bonds that pay interest currently or in cash.&#148; In response to the Staff&#146;s comment to add similar disclosure to the discussion of the Fund&#146;s risk
factors, the Fund will add the following disclosure to &#147;Zero Coupon Securities Risk&#148; and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#147;Pay-in-Kind</FONT></FONT> Bonds Risk&#148; in the Amendment: &#147;Because
[zero coupon <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">bonds/pay-in-kind</FONT></FONT> bonds] allow an issuer to defer the need to generate cash to meet current interest payments, these investments may involve greater credit
risk than bonds that pay interest currently or in cash.&#148; </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:24%; font-size:12pt; font-family:Times New Roman">With respect to item (b), the following disclosure will
be added to &#147;Zero Coupon Securities Risk&#148; and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#147;Pay-in-Kind</FONT></FONT> Bonds Risk&#148; in the Amendment: &#147;In addition, [zero coupon <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">bonds/pay-in-kind</FONT></FONT> bonds] may be difficult to value accurately because their continuing accruals require continuing judgments about the collectability of the deferred payments
and the value of any associated collateral.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 3 - </P>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">March 18, 2022 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman"> Page
 4
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:24%; font-size:12pt; font-family:Times New Roman">With respect to item (d) (other than as noted below), the Fund will add the following
disclosure to <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#147;Pay-in-Kind</FONT></FONT> Bonds Risk&#148;: &#147;Additionally, interest on
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">pay-in-kind</FONT></FONT> bonds has the effect of generating investment income, and the deferral of interest on
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">pay-in-kind</FONT></FONT> bonds increases the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">loan-to-value</FONT></FONT> ratio at a compounding rate.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:24%; font-size:12pt; font-family:Times New Roman">With respect to items (d)&nbsp;and (e), the Fund does not pay an incentive fee to BlackRock Advisors, LLC, the investment adviser to the
Fund, and, as such, respectfully submits that no changes are required to address the Staff&#146;s comment. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;8</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus Supplement&#151;Description of the Rights Offering&#151;Over-Subscription Privilege. Please add
disclosure in paragraph 3 that if the <FONT STYLE="white-space:nowrap">per-share</FONT> NAV at the end of the subscription period is greater than the subscription price, the oversubscription shares issued will not result in the ratio of the rights
offering exceeding one new share for each three rights held.</I> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The requested disclosure will be added in the Amendment. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;9</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus Supplement&#151;Description of the Rights Offering&#151;Payment for Shares. Please conform the
language that discusses the rights reserved by the Fund if a holder of rights does not make payment of all amounts due to the disclosure comments that the Staff discussed with Willkie Farr</I><I></I><I>&nbsp;&amp; Gallagher LLP in a separate
filing.</I> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The requested revisions will be made in the Amendment. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;10</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus Supplement&#151;Foreign Restrictions. Please revise the disclosure to indicate how foreign
holders can participate in the offering, or advise how the disclosure is consistent with Section</I><I></I><I>&nbsp;23(b)(1)of the Investment Company Act of 1940, as amended, to exclude them from the offering.</I> </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The Fund will replace the disclosure in the aforementioned section as follows: </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:32%; font-size:12pt; font-family:Times New Roman">Offering documents, including Subscription Certificates, will not be mailed to Record Date Shareholders whose addresses are outside the
United States (for these purposes, the United States includes the District of Columbia and the territories and possessions of the United States) or who have an APO or FPO address (the &#147;Foreign Shareholders&#148;) if such mailing cannot be made
into the <FONT STYLE="white-space:nowrap">non-U.S.</FONT> jurisdiction without additional registration and incurring other expense that the Board has determined is not in the best interest of the Trust and its shareholders. In such cases, unless
determined to be not in the best interest of the Trust and its shareholders in accordance with the previous sentence, the Subscription Agent will send a letter via regular mail to Foreign </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 4 - </P>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">March 18, 2022 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman"> Page
 5
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:32%; font-size:12pt; font-family:Times New Roman">
Shareholders who own Common Shares directly (&#147;Direct Foreign Shareholders&#148;), as opposed to in &#147;street name&#148; with a broker or other financial intermediary, to notify them of
the Rights offering. Direct Foreign Shareholders who wish to exercise their Rights should contact the Information Agent, as described above under &#147;Information Agent,&#148; to facilitate the exercise of such Rights and for instructions or any
other special requirements that may apply in order for such Direct Foreign Shareholder to exercise its Rights. Direct Foreign Shareholders who wish to sell their Rights should contact the Subscription Agent and follow the procedures described above
under &#147;Sale of Rights.&#148; Direct Foreign Shareholders are encouraged to contact the Trust or the Subscription Agent as far in advance of the Expiration Date as possible to ensure adequate time for their Rights to be exercised or sold.
Foreign Shareholders who own Common Shares in &#147;street name&#148; through a broker or other financial intermediary should contact such broker or other financial intermediary with respect to any exercise or sale of Rights. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:24%; font-size:12pt; font-family:Times New Roman">The Fund respectfully submits that foreign shareholders are not excluded from participation in an offering of Rights. Any foreign shareholder
may exercise or sell (in a transferable Rights offering) any Rights to which they are entitled. The Fund is simply not undertaking in the Registration Statement to register the offering of Rights in any
<FONT STYLE="white-space:nowrap">non-U.S.</FONT> jurisdiction. In the event a shareholder is unable to exercise their Rights due to local laws, the Fund has established a mechanism that seeks to allow shareholders located in foreign jurisdictions to
realize the value of the Rights. These points will be disclosed to shareholders as set out above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;11</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus Supplement&#151;Description of Rights Offering&#151;Notice of Net Asset Value Decline. The
undertakings do not reflect the description in this section. Please change the undertakings or revise this section. </I> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The above-referenced section will be deleted in the Amendment. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;12</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Prospectus Supplement&#151;Plan of Distribution&#151;Distribution Arrangements. If the Dealer Manager and
selling members may be engaging in stabilizing activities, please disclose this and discuss that this may have the effect of depressing or retarding the market price of the common stock.</I> </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The requested disclosure will be added in the Amendment in brackets. While not currently expected, to the
extent any stabilizing activities are engaged in with respect to a particular rights offering, the disclosure will be finalized and included in a prospectus supplement. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 5 - </P>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">March 18, 2022 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman"> Page
 6
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;13</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Please provide the Staff with a form of the legal opinion required by Item 25(2)(l) of Form <FONT
STYLE="white-space:nowrap">N-2</FONT> sufficiently in advance of requesting effectiveness. </I> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The Fund provided a draft of the legal opinion to the Staff via email on March&nbsp;14, 2022 and will file the
final legal opinion with the Amendment. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Comment&nbsp;No.</U><U></U><U>&nbsp;14</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><I>Statement of Additional Information&#151;Investment Objective and Policies&#151;Investment Restrictions. In
the discussion of the Fund&#146;s application of the limitations in fundamental investment restrictions nos. 1 and 2 (regarding concentration and diversification), please change &#147;only&#148; to &#147;principally&#148; in the second sentence of
the following disclosure: &#147;For purposes of applying the limitation set forth in subparagraphs (1)</I><I></I><I>&nbsp;and (2)</I><I></I><I>&nbsp;above, securities of the U.S. government, its agencies, or instrumentalities, and securities backed
by the credit of a governmental entity are not considered to represent industries. However, obligations backed only by the assets and revenues of</I><I></I><I><FONT STYLE="white-space:nowrap">&nbsp;non-governmental</FONT></I><I></I><I>&nbsp;issuers
may for this purpose be deemed to be issued by such</I><I></I><I><FONT STYLE="white-space:nowrap">&nbsp;non-governmental</FONT></I><I></I><I>&nbsp;issuers.&#148;</I> </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="24%" VALIGN="top" ALIGN="left"><U>Response</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">The requested change will be made in the Amendment. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;
&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;* </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Please do not hesitate to contact me at (212) <FONT
STYLE="white-space:nowrap">728-8955</FONT> if you have comments or if you require additional information regarding the Registration Statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Respectfully submitted, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><U>/s/ Bissie K. Bonner</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Bissie K. Bonner </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">Janey Ahn, Esq., BlackRock Advisors, LLC </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left">Dean Caruvana, Esq., BlackRock Advisors, LLC </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 6 - </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g298696g0318095202209.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g298696g0318095202209.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  7 4L# 2(  A$! Q$!_\0
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M\ZZ0,H<1/MR1D\XV]!ZU!XH@O-8\=^#M;LK.22QTUII+ARZ*0KHNW +9-%%
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F,;P.><8_'MFMUO GAB2226?1[:XFD=G>69=SNQ))))^M%% '_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
