<SEC-DOCUMENT>0001752724-21-091676.txt : 20210513
<SEC-HEADER>0001752724-21-091676.hdr.sgml : 20210513
<ACCEPTANCE-DATETIME>20210513110851
ACCESSION NUMBER:		0001752724-21-091676
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210228
FILED AS OF DATE:		20210513
DATE AS OF CHANGE:		20210513
EFFECTIVENESS DATE:		20210513

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Voya PRIME RATE TRUST
		CENTRAL INDEX KEY:			0000826020
		IRS NUMBER:				956874587
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05410
		FILM NUMBER:		21917887

	BUSINESS ADDRESS:	
		STREET 1:		VOYA PRIME RATE TRUST
		STREET 2:		7337 E. DOUBLETREE RANCH ROAD, STE 100
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85258
		BUSINESS PHONE:		4804773000

	MAIL ADDRESS:	
		STREET 1:		VOYA PRIME RATE TRUST
		STREET 2:		7337 E. DOUBLETREE RANCH ROAD, STE 100
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85258

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ING PRIME RATE TRUST
		DATE OF NAME CHANGE:	20020205

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM AMERICA PRIME RATE TRUST
		DATE OF NAME CHANGE:	19960518

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM PRIME RATE TRUST/
		DATE OF NAME CHANGE:	19960518
</SEC-HEADER>
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<SEQUENCE>1
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            <principalName>BofA Securities, Inc.</principalName>
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        <principalAggregatePurchase>1155463708.56000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>676690028.97000000</mnthlyAvgNetAssets>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>Common Stock</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="PPR"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <repurchaseSecurities isRepurchaseSecurity="Y">
        <repurchaseSecurityType>Common stock</repurchaseSecurityType>
      </repurchaseSecurities>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>1.38000000</managementFee>
      <netOperatingExpenses>2.26000000</netOperatingExpenses>
      <marketPricePerShare>4.63000000</marketPricePerShare>
      <netAssetValuePerShare>4.96000000</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <attachmentsTab>
      <isLegalProceedings>true</isLegalProceedings>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="Voya Prime Rate Trust" signedDate="2021-05-11" signature="Dorothy Roman" title="Vice President Mutual Fund Analysis and Reporting"/>
  </formData>
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<DOCUMENT>
<TYPE>LEGAL PROCEEDINGS
<SEQUENCE>2
<FILENAME>NCEN_811-05410_8730313479.txt
<TEXT>


Item G.1.a.i.  - LEGAL PROCEEDINGS
case number CV2020-005293

On May 1, 2020, Saba Capital CEF Opportunities 1
Ltd. ("Saba") filed a Verified Complaint and an
Application for Preliminary Injunction in Maricopa
County Superior Court, Phoenix, Arizona (the "Superior
Court"), naming as defendants the Trust, Voya
Investments, and the individuals serving on the Trust's
Board. Saba sought a preliminary injunction and
permanent equitable relief from the court, primarily in
the form of an order striking certain amendments to the
Trust's bylaws which related to the voting standard to
be employed at Board elections, as adopted by the
Board on April 13, 2020, and awarding various other
forms of declaratory and unspecified monetary relief.
Defendants filed a Motion to Dismiss the Verified
Complaint and an Opposition to Saba's Application for
Preliminary Injunction on May 20, 2020. On June 26,
2020, after a hearing, the court granted Saba's
application for a preliminary injunction, ruling that the
named defendants are preliminarily enjoined from
applying the voting standard set forth in the April 13,
2020, bylaw amendments, and that the Trust shall
conduct the Board election in accordance with the
previous voting standard. On July 1, Defendants filed
an emergency motion with the Superior Court asking
for a stay of the preliminary injunction pending a
planned appealed from the superior court's June 24
order, which the superior court denied on July 6. On
July 2, Defendants filed an expedited "special action"
appeal to the Arizona Court of Appeals, and sought a
stay of the superior court's June 24 order in connection
with that expedited appeal. On July 7, the Court of
Appeals declined jurisdiction over the "special action"
and denied the appellate motion to stay the preliminary
injunction as moot. On July 7, Defendants filed an
amended notice of appeal indicating that they would
pursue a non-expedited "direct appeal" to the Arizona
Court of Appeals, and sought another emergency stay
of the superior court's June 24 order in connection with
that ordinary-course appeal. The Court of Appeals
again denied the stay request. The annual shareholder
meeting proceeded, and the Board election was done in
accordance with the previous voting standard. On
September 30, 2020 (1) the preliminary injunction
order entered on June 26, 2020 was vacated as moot,
and (2) the case was dismissed with prejudice.





















</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>3
<FILENAME>NCEN_811-05410_9623654922.txt
<TEXT>
Report of Independent Registered Public Accounting
Firm

To the Shareholders and
Board of Trustees of Voya Prime Rate Trust

In planning and performing our audit of the financial
statements of Voya Prime Rate Trust (the Trust) as of
and for the year ended February 28, 2021, in accordance
with the standards of the Public Company Accounting
Oversight Board (United States), we considered the
Trust's 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-CEN, but not for the purpose of expressing an opinion
on the effectiveness of the Trust's internal control over
financial reporting. Accordingly, we express no such
opinion.

The management of the Trust 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 company'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 U.S. generally accepted accounting
principles. A company'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 company; (2) provide
reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in
accordance with U.S. generally accepted accounting
principles, and that receipts and expenditures of the
company are being made only in accordance with
authorizations of management and directors of the
company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use or disposition of a company'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 company's annual or interim
financial statements will not be prevented or detected on
a timely basis.

Our consideration of the Trust's 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 Trust's
internal control over financial reporting and its
operation, including controls over safeguarding
securities, that we consider to be a material weakness as
defined above as of February 28, 2021.

This report is intended solely for the information and use
of management and the Board of Trustees of Voya
Prime Rate 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/ Ernst & Young LLP

Boston, Massachusetts
April 29, 2021




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