N-CSRS 1 a07-20360_7ncsrs.htm N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-CSR

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act file number

811-05012

 

CREDIT SUISSE ASSET MANAGEMENT INCOME FUND, INC.

(Exact name of registrant as specified in charter)

 

Eleven Madison Avenue, New York, New York

 

10010

(Address of principal executive offices)

 

(Zip code)

 

J. Kevin Gao, Esq.

Credit Suisse Asset Management Income Fund, Inc.

Eleven Madison Avenue

New York, New York 10010

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

(212) 325-2000

 

 

Date of fiscal year end:

December 31

 

 

Date of reporting period:

January 1, 2007 to June 30, 2007

 

 




Item 1. Reports to Stockholders.




Credit Suisse Asset Management
Income Fund, Inc.
Eleven Madison Avenue
New York, NY 10010

Directors

Enrique R. Arzac

Chairman of the Board

Terry Fires Bovarnick

James J. Cattano

Lawrence J. Fox

Lawrence Haber

Steven N. Rappaport

Officers

Keith M. Schappert

Chief Executive Officer and President

Martha B. Metcalf

Chief Investment Officer

J. Kevin Gao

Chief Legal Officer, Senior Vice President
and Secretary

Emidio Morizio

Chief Compliance Officer

Michael A. Pignataro

Chief Financial Officer

Robert Rizza

Treasurer

Investment Adviser

Credit Suisse Asset Management, LLC
Eleven Madison Avenue
New York, New York 10010

Investment Sub-Adviser

Credit Suisse Asset Management Limited
One Cabot Square
London, E14 4QJ

Administrator and Custodian

Brown Brothers Harriman & Co.
40 Water Street
Boston, Massachusetts 02109

Shareholder Servicing Agent

Computershare Trust Company, N.A.
P.O. Box 43010
Providence, RI 02940-3010

Legal Counsel

Willkie Farr & Gallagher
787 7th Avenue
New York, New York 10019

Independent Registered Public Accounting Firm

PricewaterhouseCoopers LLP
100 East Pratt Street
Baltimore, MD 21202

Credit Suisse Asset Management
Income Fund, Inc.

SEMIANNUAL REPORT
June 30, 2007
(unaudited)




Credit Suisse Asset Management Income Fund, Inc.

Semiannual Investment Adviser's Report

June 30, 2007 (unaudited)

July 26, 2007

Dear Shareholder:

Performance Summary

1/1/07 – 06/30/07

Fund and Benchmark   Performance  
Total Return (based on NAV)1     4.16 %  
Total Return (based on market value)1     1.32 %  
Merrill Lynch US High Yield Master II Constrained Index2     3.14 %  

 

Market Review: Lower-rated issuers outperform the broad market

For the semiannual period ended June 30, 2007, the high yield market, as measured by the Merrill Lynch US High Yield Master II Constrained Index, returned 3.14%.

Lower-rated issuers outperformed the broader market for the period with CCC-rated securities returning 6.10%. Additionally, B-rated securities slightly outperformed the market at 3.39%, while BB-rated securities underperformed at 1.87%. High yield spreads widened 5 basis points relative to the Treasury market to end the period at 308 basis points.

Credit fundamentals continued to be firm as default rates, reported by Moody's Investor Services, continue to hover near 10-year lows at 1.38%. Equally supportive of fundamentals is the Merrill Lynch distress ratio, a leading indicator for future default rates, which has remained near 15 year-lows of 1.2% for the period.

Against this fundamental backdrop, the technical environment has been pressured the past few months as the new issue calendar continues to grow. Year-to-date, $95.3 billion in new issues came into the U.S. Dollar high yield market. This represents a 50% increase over the same period last year. Supply pressures are likely to remain near-term as the high yield market digests an estimated $80 billion in new issues through year-end. In addition, mutual fund outflows for the past four weeks have also strained market technicals.

Over the period, nearly all sectors in the broad market posted positive returns. Auto parts, transportation, and metals/mining outperformed the market while builders, auto loans and hotels underperformed.

Strategic Review and Outlook: High yield market is vulnerable to external shocks

For the six-month period ended June 30, 2007, the Fund returned 4.16% as compared to 3.14% for the benchmark. In terms of industry exposures, superior security selection in telecom-integrated, media-cable, media-broadcast and diversified capital contributed to performance. An underweight to metals/mining hurt relative returns.

The Fund continues to benefit from an underweight to BB-rated securities as the compression between lower rated securities and the broad market has persisted. We have, however, used the recent Treasury weakening as an opportunity to partially cover this underweight as the BB index now yields 7.25%.

At the sector level, we remain constructive on corporate spending and the commercial cycle broadly. In contrast, we have grown more cautious with respect to consumer driven sectors given high energy prices and weak housing data. Additionally, we are maintaining an overweight in the cable sector as we expect product bundling will continue to support subscriber and margin growth.

The recent equity volatility in February combined with fears from subprime lending in June has proven that the high yield market is vulnerable to external shocks. We believe it may display some volatility in the future. While



Credit Suisse Asset Management Income Fund, Inc.

Semiannual Investment Adviser's Report (continued)

June 30, 2007 (unaudited)

the new issue calendar will continue to pressure in the near-term, the recent spread widening has brought valuations more in–line to fair value. We will look for opportunities to add exposure in new issues with cheaper pricing and better covenants as well as higher yielding BB-rated securities.

   
Martha Metcalf
Chief Investment Officer*
  Keith M. Schappert
Chief Executive Officer and President**
 

 

High yield bonds are lower-quality bonds that are also known as "junk bonds." Such bonds entail greater risks than those found in higher-rated securities.

International investing entails special risk considerations, including currency fluctuations, lower liquidity, economic and political risks, and differences in accounting methods; these risks are generally heightened for emerging- market investments. The Fund may include a greater degree of risk than other funds that invest in larger, more-developed markets.

In addition to historical information, this report contains forward-looking statements, which may concern, among other things, domestic and foreign market, industry and economic trends and developments and government regulation and their potential impact on the Fund's investments. These statements are subject to risks and uncertainties and actual trends, developments and regulations in the future and their impact on the Fund could be materially different from those projected, anticipated or implied. The Fund has no obligation to update or revise forward-looking statements.

We wish to remind shareholders about the Fund's dividend reinvestment program known as the InvestlinkSM Program (the "Program"). The Program is sponsored and administered by Computershare Trust Company N.A. ("Computershare"), not by the Fund. Computershare will act as program administrator (the "Program Administrator") of the Program. The purpose of the Program is to provide existing shareholders with a simple and convenient way to invest additional funds and reinvest dividends in shares of the Fund's common stock. The enrollment form and information relating to the Program (including the terms and conditions) may be obtained by calling the Program Administrator at one of the following telephone numbers: (800) 730-6001 (U.S and Canada) or (781) 575-3100 (outside U.S. and Canada). All correspondence regarding the Program should be directed to: Computershare Trust Company, N.A., InvestLinkSM Program, P.O. Box 43010, Providence, RI 02940-3010.

  *  Martha B. Metcalf is a Managing Director of Credit Suisse Asset Management, LLC ("Credit Suisse") and head of the U.S. High Yield Management Team. She has served in these capacities since 2005. As of November 2005, she is primarily responsible for the management of the Fund's assets. From 2000 until 2005, she was a Managing Director and Portfolio Manager of Global High Yield bonds, and head of a global high yield business with responsibility for total return, as well as structured portfolios at Invesco. Prior to her tenure at Invesco, Ms. Metcalf served for over 10 years at JPMorgan Investment Management, where she was Vice President and Portfolio Manager for High Yield Corporate bonds.

  **  Keith M. Schappert is Executive Vice Chairman and Head of Asset Management for Americas of Credit Suisse and CEO/President of the Fund. Mr. Schappert joined Credit Suisse in 2006 from Federated Investment Advisory Companies, where he was CEO and President from 2002. Prior to Federated, Mr. Schappert was CEO and President of JP Morgan Investment Management from 1994 to 2001.

1  Assuming reinvestment of dividends of $0.15 per share.

2  The Merrill Lynch US High Yield Master II Constrained Index is an unmanaged index that tracks the performance of below-investment-grade, U.S. dollar-denominated corporate bonds issued in the U.S. domestic market. Any individual issuer is capped at 2%. Investors cannot invest directly in an index.



Credit Suisse Asset Management Income Fund, Inc.

Semiannual Investment Adviser's Report (continued)

June 30, 2007 (unaudited)

Top Ten Holdings

(% of net assets as of 6/30/07)

Security Description

1.
  HCA, Inc.
6.500%, 02/15/16
    1.25 %  
2.
  SunGard Data Systems, Inc.
10.250%, 08/15/15
    0.85 %  
3.
  General Motors Corp.
7.125%, 07/15/13
    0.84 %  
4.
  CCH I LLC
11.000%, 10/01/15
    0.80 %  
5.
  General Motors Acceptance Corp.
5.625%, 05/15/09
    0.76 %  
6.
  Freescale Semiconductor, Inc.
10.125%, 12/15/16
    0.75 %  
7.
  Smurfit-Stone Container
8.375%, 07/01/12
    0.74 %  
8.
  General Motors Corp.
8.375%, 07/15/33
    0.74 %  
9.
  Ford Motor Credit Co.
7.00%, 10/1/13
    0.73 %  
10.
  Chesapeake Energy Corp.
6.875%, 01/15/16
    0.73 %  

 

Credit Quality Breakdown

(% of total investments as of 6/30/07)

S&P Ratings  

 

BBB     0.4 %  
BB     11.5    
B     49.6    
CCC     35.0    
CC     0.8    
D     0.3    
N/R     0.9    
Subtotal     98.5    
Time Deposit     0.5    
Equities and Other     1.0    
Total     100.0 %  

 


1




Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments

June 30, 2007 (unaudited)

Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%   Value  
U.S. CORPORATE BONDS (88.0%)      
Aerospace/Defense (1.6%)      
$ 275     DRS Technologies, Inc., Company Guaranteed Notes (Callable 02/01/11 @ $103.81)   (B , B3)   02/01/18     7.625     $ 279,125    
  275     DRS Technologies, Inc., Global Senior Subordinated Notes (Callable 11/01/08 @ $103.44)   (B , B3)   11/01/13     6.875       268,125    
  200     Hawker Beechcraft Acquisition Company LLC, Rule 144A, Senior Notes (Callable 04/01/11 @ $104.25) ‡   (B- , B3)   04/01/15     8.500       207,000    
  375     Hawker Beechcraft Acquisition Company LLC, Rule 144A, Senior Notes (Callable 04/01/11 @ $104.44) ‡   (B- , B3)   04/01/15     8.875       387,187    
  775     Hawker Beechcraft Acquisition Company LLC, Rule 144A, Senior Subordinated Notes
(Callable 04/01/12 @ $104.88) ‡
  (B- , Caa1)   04/01/17     9.750       811,812    
  475     K&F Acquisition, Inc., Global Company Guaranteed Notes (Callable 11/15/09 @ $103.88)   (NR , Caa1)   11/15/14     7.750       505,875    
  725     L-3 Communication Corp., Global Senior Subordinated Notes (Callable 01/15/10 @ $102.94)   (BB+ , Ba3)   01/15/15     5.875       676,062    
  150     TransDigm, Inc., Global Company Guaranteed Notes (Callable 07/15/09 @ $105.81)   (B- , B3)   07/15/14     7.750       152,250    
  300     TransDigm, Inc., Rule 144A, Senior Subordinated Notes (Callable 07/15/09 @ $105.81) ‡   (B- , B3)   07/15/14     7.750       304,500    
                      3,591,936    
Agriculture (0.4%)      
  825     Southern States Cooperative, Inc., Rule 144A, Senior Notes (Callable 11/01/07 @ $108.00) ‡   (B , Caa1)   11/01/10     10.500       874,500    
Apparel/Textiles (0.7%)      
  675     Levi Strauss & Co., Global Senior Notes (Callable 01/15/10 @ $104.88)   (B , B2)   01/15/15     9.750       725,625    
  275     Levi Strauss & Co., Global Senior Notes (Callable 12/15/07 @ $106.13)   (B , B2)   12/15/12     12.250       299,062    
  500     Propex Fabrics, Inc., Global Company Guaranteed Notes (Callable 12/01/08 @ $105.00)   (CCC , Caa1)   12/01/12     10.000       450,000    
                      1,474,687    
Auto Loans (3.9%)      
  1,725     Ford Motor Credit Co., Global Notes   (B , B1)   10/01/13     7.000       1,600,167    
  750     Ford Motor Credit Co., Global Notes   (B , B1)   06/15/10     7.875       750,340    
  425     Ford Motor Credit Co., Senior Notes   (B , B1)   08/10/11     9.875       446,468    
  650     Ford Motor Credit Co., Senior Unsecured Notes   (B , B1)   06/16/08     6.625       649,708    
  1,300     Ford Motor Credit Co., US Domestic, Senior Unsecured Notes   (B , B1)   12/15/16     8.000       1,247,216    
  1,700     General Motors Acceptance Corp., Global Notes   (BB+ , Ba1)   05/15/09     5.625       1,662,867    
  1,480     General Motors Acceptance Corp., Global Notes   (BB+ , Ba1)   12/01/14     6.750       1,419,351    
  850     GMAC LLC, US Domestic, Senior Unsubordinated Notes   (BB+ , Ba1)   12/15/11     6.000       808,868    
                      8,584,985    
Automobile Parts & Equipment (2.1%)      
  650     Altra Industrial Motion, Inc., Global Secured Notes (Callable 12/01/08 @ $104.50)   (CCC+ , B2)   12/01/11     9.000       676,000    
  275     Altra Industrial Motion, Inc., Rule 144A, Secured Notes (Callable 12/01/08 @ $104.50) ‡   (CCC+ , B2)   12/01/11     9.000       286,000    
  800     American Tire Distributors Holdings, Inc., Global Senior Notes (Callable 04/01/09 @ $105.38) §   (CCC+ , Caa1)   04/01/13     10.750       820,000    
  812     Goodyear Tire & Rubber Co., Global Senior Notes (Callable 07/01/10 @ $104.50) §   (B , Ba3)   07/01/15     9.000       878,990    
  75     Goodyear Tire & Rubber Co., Rule 144A, Senior Notes (Callable 08/13/07 @ $100.00) ‡   (B , Ba3)   12/01/09     9.140       75,562    
  16     Goodyear Tire & Rubber Co., Rule 144A, Senior Notes (Callable 12/01/09 @ $104.31) ‡   (B , Ba3)   12/01/11     8.625       16,920    
  450     Keystone Automotive Operations, Inc., Global Senior Subordinated Notes (Callable 11/01/08 @ $104.88)   (CCC+ , Caa2)   11/01/13     9.750       393,750    
  775     Stanadyne Corp., Global Senior Subordinated Notes (Callable 08/15/09 @ $105.00)   (CCC+ , Caa1)   08/15/14     10.000       823,437    
  600     Visteon Corp., Global Senior Notes   (CCC+ , Caa2)   08/01/10     8.250       598,500    
                      4,569,159    
Automotive (2.0%)      
  1,210     Ford Motor Co., Global Notes   (CCC+ , Caa1)   07/16/31     7.450       972,537    
  1,950     General Motors Corp., Global Senior Notes §   (B- , Caa1)   07/15/13     7.125       1,835,437    
  1,750     General Motors Corp., Global Senior Unsubordinated Notes §   (B- , Caa1)   07/15/33     8.375       1,605,625    
                      4,413,599    
Beverage (0.2%)      
  525     Constellation Brands, Inc., Company Guaranteed Notes   (BB- , Ba3)   09/01/16     7.250       514,500    
Brokerage (0.2%)      
  175     E*TRADE Financial Corp., Global Senior Unsecured Notes (Callable 06/15/08 @ $104.00)   (BB- , Ba2)   06/15/11     8.000       180,250    
  315     E*TRADE Financial Corp., US Domestic, Senior Unsecured Notes (Callable 12/01/10 @ $103.94)   (BB- , Ba2)   12/01/15     7.875       329,569    
                      509,819    

 

See Accompanying Notes to Financial Statements.
2



Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments (continued)

June 30, 2007 (unaudited)

Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%   Value  
U.S. CORPORATE BONDS      
Building & Construction (1.8%)      
$ 900     Ashton Woods, Global Senior Subordinated Notes (Callable 10/01/10 @ $104.75)   (B- , B3)   10/01/15     9.500     $ 837,000    
  500     K Hovnanian Enterprises, Inc., Global Company Guaranteed Notes   (BB , Ba3)   01/15/16     6.250       427,500    
  600     KB Home, Senior Notes §   (BB+ , Ba1)   06/15/15     6.250       531,000    
  625     Standard Pacific Corp., Global Senior Notes §   (BB , Ba3)   08/15/15     7.000       553,125    
  750     TOUSA, Inc., Global Senior Subordinated Notes §   (CCC+ , Caa2)   01/15/15     7.500       521,250    
  425     WCI Communities, Inc., Global Company Guaranteed Notes (Callable 03/15/10 @ $103.31) §   (B+ , Caa1)   03/15/15     6.625       384,625    
  250     William Lyon Homes, Inc., Global Senior Notes (Callable 02/15/09 @ $103.75) §   (B , Caa1)   02/15/14     7.500       211,250    
  500     William Lyon Homes, Inc., Global Senior Notes (Callable 12/15/08 @ $103.81)   (B , Caa1)   12/15/12     7.625       430,000    
                      3,895,750    
Building Materials (3.9%)      
  750     Associated Materials, Inc., Global Senior Discount Notes (Callable 03/01/09 @ $105.63) +   (CCC , Caa2)   03/01/14     0.000       562,500    
  825     Building Materials Corp. of America, Global Secured Notes (Callable 08/01/09 @ $103.88)   (BB- , B2)   08/01/14     7.750       804,375    
  1,000     Coleman Cable, Inc., Global Company Guaranteed Notes (Callable 10/01/08 @ $104.94)   (B , B2)   10/01/12     9.875       1,050,000    
  750     CPG International I, Inc., Global Senior Unsecured Notes (Callable 07/01/09 @ $105.25)   (B- , B3)   07/01/13     10.500       772,500    
  300     Dayton Superior Corp., Company Guaranteed Notes (Callable 08/13/07 @ $102.17)   (CCC+ , Caa2)   06/15/09     13.000       306,750    
  500     Dayton Superior Corp., Global Company Guaranteed Notes (Callable 08/13/07 @ $102.81)   (B , B2)   09/15/08     10.750       513,750    
  375     General Cable Corp., Rule 144A, Senior Notes (Callable 04/01/09 @ $102.00) ‡   (B+ , B1)   04/01/15     7.725       376,875    
  175     General Cable Corp., Rule 144A, Senior Notes (Callable 04/01/12 @ $103.56) ‡   (B+ , B1)   04/01/17     7.125       174,125    
  875     Goodman Global Holding Company, Inc., Global Senior Subordinated Notes
(Callable 12/15/08 @ $103.94) §
  (B- , B3)   12/15/12     7.875       870,625    
  400     Interface, Inc., Global Senior Subordinated Notes (Callable 02/01/09 @ $104.75)   (CCC+ , B3)   02/01/14     9.500       433,000    
  325     Norcraft Companies, Global Senior Subordinated Notes (Callable 11/01/07 @ $104.50)   (B- , B1)   11/01/11     9.000       337,187    
  250     Norcraft Holdings LP, Global Senior Discount Notes (Callable 09/01/08 @ $104.88)   (B- , B3)   09/01/12     9.750       230,000    
  700     Nortek, Inc., Global Senior Subordinated Notes (Callable 09/01/09 @ $104.25)   (CCC+ , B3)   09/01/14     8.500       670,250    
  750     NTK Holdings, Inc., Global Senior Discount Notes (Callable 09/01/09 @ $105.38) §+   (CCC+ , Caa1)   03/01/14     0.000       547,500    
  1,025     Ply Gem Industries, Inc., Global Senior Subordinated Notes (Callable 02/15/08 @ $104.50) §   (CCC+ , Caa1)   02/15/12     9.000       926,344    
                      8,575,781    
Chemicals (2.5%)      
  650     Koppers Holdings, Inc., Global Senior Discount Notes (Callable 11/15/09 @ $104.94) +   (B- , B3)   11/15/14     0.000       559,000    
  375     Lyondell Chemical Co., Global Company Guaranteed Notes (Callable 06/01/08 @ $105.25)   (BB+ , Ba2)   06/01/13     10.500       406,875    
  675     Lyondell Chemical Co., Global Senior Unsecured Notes (Callable 09/15/10 @ $104.00)   (B+ , B1)   09/15/14     8.000       696,937    
  925     Lyondell Chemical Co., Global Senior Unsecured Notes (Callable 09/15/11 @ $104.13)   (B+ , B1)   09/15/16     8.250       971,250    
  250     Momentive Performance Materials, Inc., Rule 144A, Company Guaranteed Notes
(Callable 12/01/10 @ $104.88) ‡
  (B- , B3)   12/01/14     9.750       253,750    
  625     Momentive Performance Materials, Inc., Rule 144A, Senior Subordinated Notes
(Callable 12/01/11 @ $105.75) ‡
  (CCC+ , Caa2)   12/01/16     11.500       634,375    
  800     Nalco Finance Holdings, Inc., Global Senior Notes (Callable 02/01/09 @ $104.50) +   (B- , B3)   02/01/14     0.000       732,000    
  312     PolyOne Corp., Global Company Guaranteed Notes (Callable 08/13/07 @ $105.31)   (B+ , B2)   05/15/10     10.625       328,380    
  250     PolyOne Corp., Senior Notes §   (B+ , B2)   05/01/12     8.875       249,375    
  725     Terra Capital, Inc., Global Company Guaranteed Notes (Callable 02/01/12 @ $103.50)   (BB- , B1)   02/01/17     7.000       703,250    
                      5,535,192    
Computer Hardware (0.2%)      
  500     Activant Solutions, Inc., Senior Unsubordinated Notes (Callable 05/01/11 @ $104.75)   (CCC+ , Caa1)   05/01/16     9.500       493,750    
Consumer - Products (2.3%)      
  1,175     AAC Group Holding Corp., Global Senior Discount Notes (Callable 10/01/08 @ $105.13) +   (CCC+ , B3)   10/01/12     0.000       1,063,375    
  1,000     Amscan Holdings, Inc., Global Senior Subordinated Notes (Callable 05/01/09 @ $104.38)   (CCC+ , Caa1)   05/01/14     8.750       992,500    
  825     Del Laboratories, Inc., Global Company Guaranteed Notes (Callable 02/01/08 @ $104.00)   (CCC- , Caa2)   02/01/12     8.000       796,125    
  550     Jarden Corp., Company Guaranteed Notes (Callable 05/01/12 @ $103.75)   (B- , B3)   05/01/17     7.500       545,875    
  525     Playtex Products, Inc., Global Company Guaranteed Notes (Callable 08/13/07 @ $103.13)   (B- , Caa1)   06/01/11     9.375       542,062    
  594     Prestige Brands, Inc., Global Senior Subordinated Notes (Callable 04/15/08 @ $104.63)   (B- , B3)   04/15/12     9.250       611,820    
  500     Revlon Consumer Products Corp., Global Senior Notes (Callable 04/01/08 @ $104.75) §   (CCC- , Caa2)   04/01/11     9.500       478,750    
                      5,030,507    

 

See Accompanying Notes to Financial Statements.
3



Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments (continued)

June 30, 2007 (unaudited)

Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%   Value  
U.S. CORPORATE BONDS      
Diversified Capital Goods (1.6%)      
$ 575     Esco Corp., Rule 144A, Senior Notes (Callable 12/15/08 @ $102.00) ‡#   (B , B2)   12/15/13     9.235     $ 589,375    
  400     RBS Global, Inc., & Rexnord Corp., Global Company Guaranteed Notes (Callable 08/01/10 @ $104.75)   (CCC+ , B3)   08/01/14     9.500       412,000    
  500     RBS Global, Inc., & Rexnord Corp., Global Company Guaranteed Notes (Callable 08/01/11 @ $105.88) §   (CCC+ , Caa1)   08/01/16     11.750       540,000    
  575     Sensus Metering Systems, Inc., Global Senior Subordinated Notes (Callable 12/15/08 @ $104.31)   (B- , B3)   12/15/13     8.625       586,500    
  625     Titan International, Inc., Global Company Guaranteed Notes   (B , B3)   01/15/12     8.000       645,312    
  694     TriMas Corp., Global Company Guaranteed Notes (Callable 08/13/07 @ $104.94)   (B1 , B3)   06/15/12     9.875       716,555    
                      3,489,742    
Electric - Generation (2.4%)      
  450     AES Corp., Senior Notes   (B , B1)   03/01/14     7.750       453,375    
  800     Calpine Generating Co., Global Secured Notes (Callable 04/01/08 @ $103.50) Ø   (D , NR)   04/01/10     7.756       224,000    
  1,200     Dynegy Holdings, Inc., Global Senior Unsecured Notes   (B- , B2)   05/01/16     8.375       1,179,000    
  375     Dynegy Holdings, Inc., Rule 144A, Senior Notes ‡   (B- , B2)   06/01/15     7.500       354,844    
  725     Dynegy Holdings, Inc., Rule 144A, Senior Unsecured Notes ‡   (B- , B2)   06/01/19     7.750       677,875    
  350     Edison Mission Energy, Rule 144A, Senior Notes ‡   (BB- , B1)   05/15/17     7.000       331,625    
  200     Edison Mission Energy, Rule 144A, Senior Notes ‡   (BB- , B1)   05/15/19     7.200       189,000    
  271     Midwest Generation LLC, Series B, Global Pass Thru Certificates   (BB+ , Ba2)   01/02/16     8.560       289,454    
  25     NRG Energy, Inc., Company Guaranteed Notes (Callable 01/15/12 @ $103.69)   (B , B1)   01/15/17     7.375       25,156    
  425     NRG Energy, Inc., Senior Notes (Callable 2/01/11 @ $103.69)   (B , B1)   02/01/16     7.375       427,125    
  575     Reliant Energy, Inc., Senior Notes   (B- , B3)   06/15/14     7.625       563,500    
  575     Reliant Energy, Inc., Senior Notes   (B- , B3)   06/15/17     7.875       562,062    
                      5,277,016    
Electric - Integrated (0.2%)      
  500     Mirant Americas Generation LLC, Senior Notes Ø   (NR , NR)   05/01/06     7.625       0    
  300     Mirant Corp., Rule 144A, Senior Notes ‡Ø   (B , NR)   07/15/04     7.400       23,901    
  300     Sierra Pacific Resources, Global Senior Unsecured Notes (Callable 03/15/09 @ $104.31)   (B , B1)   03/15/14     8.625       323,494    
                      347,395    
Electronics (2.2%)      
  1,000     Amkor Technology, Inc., Global Senior Notes (Callable 05/15/08 @ $103.88)   (B , B1)   05/15/13     7.750       966,250    
  190     Ampex Corp., Secured Notes (Callable 08/13/07 @ $100.00) ^   (NR , NR)   08/15/08     12.000       189,942    
  200     Freescale Semiconductor, Inc., Rule 144A, Senior Notes (Callable 12/15/10 @ $104.44) ‡   (B , B1)   12/15/14     8.875       192,000    
  1,725     Freescale Semiconductor, Inc., Rule 144A, Senior Subordinated Notes (Callable 12/15/11 @ $105.06) ‡   (B , B2)   12/15/16     10.125       1,630,125    
  258     GrafTech Finance, Inc., Global Company Guaranteed Notes (Callable 08/13/07 @ $105.13)   (B , B2)   02/15/12     10.250       271,545    
  775     Spansion, Inc., Rule 144A, Senior Notes (Callable 01/15/11 @ $105.63) ‡   (B , Caa1)   01/15/16     11.250       802,125    
  750     Viasystems, Inc., Global Senior Subordinated Notes (Callable 01/15/08 @ $105.25)   (B- , Caa1)   01/15/11     10.500       768,750    
                      4,820,737    
Energy - Exploration & Production (2.4%)      
  775     Chaparral Energy, Inc., Rule 144A, Senior Notes (Callable 02/01/12 @ $104.44) ‡   (CCC+ , Caa1)   02/01/17     8.875       769,187    
  1,611     Chesapeake Energy Corp., Senior Notes (Callable 01/15/09 @ $103.44)   (BB , Ba2)   01/15/16     6.875       1,582,807    
  650     Encore Acquisition Co., Company Guaranteed Notes (Callable 12/01/10 @ $103.63)   (B , B1)   12/01/17     7.250       601,250    
  100     Forest Oil Corp., Global Company Guaranteed Notes (Callable 08/13/07 @ $103.88)   (B+ , B1)   05/01/14     7.750       101,500    
  225     Forest Oil Corp., Rule 144A, Senior Notes (Callable 06/15/12 @ $103.63) ‡   (B+ , B1)   06/15/19     7.250       219,375    
  600     Hilcorp Energy I LP/Hilcorp Finance Co., Rule 144A, Senior Notes (Callable 06/01/11 @ $104.50) ‡   (B , B3)   06/01/16     9.000       624,000    
  800     PetroHawk Energy Corp., Global Company Guaranteed Notes (Callable 07/15/10 @ $104.56)   (B- , B3)   07/15/13     9.125       850,000    
  200     Plains Exploration & Production Co., Company Guaranteed (Callable 06/15/11 @ $103.88)   (BB- , B1)   06/15/15     7.750       199,500    
  375     Whiting Petroleum Corp., Global Senior Subordinated Notes (Callable 05/01/08 @ $103.63)   (B , B1)   05/01/12     7.250       358,125    
                      5,305,744    
Environmental (1.2%)      
  1,525     Allied Waste North America, Inc., Series B, Global Senior Notes (Callable 04/15/09 @ $103.69) §   (B+ , B2)   04/15/14     7.375       1,513,562    
  1,100     Waste Services, Inc., Global Senior Subordinated Notes (Callable 04/15/09 @ $104.75)   (CCC+ , Caa1)   04/15/14     9.500       1,161,875    
                      2,675,437    

 

See Accompanying Notes to Financial Statements.
4



Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments (continued)

June 30, 2007 (unaudited)

Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%   Value  
U.S. CORPORATE BONDS      
Food & Drug Retailers (1.1%)      
$ 1,200     Duane Reade, Inc., Global Senior Subordinated Notes (Callable 08/01/08 @ $104.88) §   (CC , Caa3)   08/01/11     9.750     $ 1,179,000    
  150     Ingles Markets, Inc., Global Company Guaranteed Notes (Callable 08/13/07 @ $104.44)   (B , B3)   12/01/11     8.875       156,187    
  250     Rite Aid Corp., Rule 144A, Company Guaranteed (Callable 06/15/11 @ $104.69) ‡   (CCC+ , Caa1)   12/15/15     9.375       241,250    
  750     Stater Brothers Holdings, Inc., Global Senior Notes (Callable 06/15/08 @ $104.06)   (B+ , B2)   06/15/12     8.125       759,375    
  50     Stater Brothers Holdings, Inc., Rule 144A, Senior Notes (Callable 04/15/11 @ $103.88) ‡   (B+ , B2)   04/15/15     7.750       50,375    
                      2,386,187    
Food - Wholesale (1.1%)      
  525     Dole Foods Co., Inc., Debentures Notes §   (B- , Caa1)   07/15/13     8.750       514,500    
  550     National Beef Packing Company LLC, Global Senior Notes (Callable 08/01/07 @ $105.25)   (B- , Caa1)   08/01/11     10.500       574,750    
  675     Smithfield Foods, Inc., Senior Unsecured Notes   (BB , Ba3)   07/01/17     7.750       678,375    
  250     Swift & Co., Global Company Guaranteed Notes (Callable 08/13/07 @ $105.06)   (B- , Caa1)   10/01/09     10.125       259,282    
  300     Swift & Co., Global Senior Subordinated Notes (Callable 08/13/07 @ $106.25) §   (CCC+ , Caa1)   01/01/10     12.500       317,562    
                      2,344,469    
Forestry & Paper (3.4%)      
  525     Boise Cascade LLC, Global Company Guaranteed Notes (Callable 10/15/09 @ $103.56)   (B+ , B2)   10/15/14     7.125       501,375    
  1,150     Cellu Tissue Holdings, Inc., Global Secured Notes (Callable 08/13/07 @ $107.31)   (B , B2)   03/15/10     9.750       1,147,125    
  600     Georgia-Pacific Corp., Debentures Notes   (B , B2)   06/15/15     7.700       597,000    
  200     Georgia-Pacific Corp., Rule 144A, Company Guaranteed Notes (Callable 01/15/12 @ $103.56) ‡   (B , Ba3)   01/15/17     7.125       193,000    
  775     Graphic Packaging International Corp., Global Senior Subordinated Notes (Callable 8/15/08 @ $104.75)   (B- , B3)   08/15/13     9.500       808,906    
  375     Newark Group, Inc., Global Senior Subordinated Notes (Callable 03/15/09 @ $104.88)   (B- , B3)   03/15/14     9.750       383,437    
  525     NewPage Corp., Global Secured Notes (Callable 05/01/09 @ $106.00)   (B , B2)   05/01/12     10.000       569,625    
  600     NewPage Corp., Global Senior Subordinated Notes (Callable 05/01/09 @ $106.00) §   (CCC+ , B3)   05/01/13     12.000       658,500    
  1,600     Smurfit-Stone Container Enterprises, Inc., Global Senior Notes (Callable 08/13/07 @ $104.19)   (CCC+ , B3)   07/01/12     8.375       1,610,000    
  675     Verso Paper Holdings LLC, Inc., Rule 144A, Senior Subordinated Notes (Callable 08/01/11 @ $105.69) ‡   (CCC+ , B3)   08/01/16     11.375       723,937    
  125     Verso Paper Holdings LLC, Rule 144A, Secured Notes (Callable 08/01/10 @ $104.56) ‡   (B+ , B2)   08/01/14     9.125       129,687    
                      7,322,592    
Gaming (4.6%)      
  725     Buffalo Thunder Development Authority, Rule 144A, Secured Notes (Callable 12/15/10 @ $104.69) ‡   (B , B2)   12/15/14     9.375       728,625    
  1,000     CCM Merger, Inc., Rule 144A, Notes (Callable 08/01/09 @ $104.00) ‡   (CCC+ , B3)   08/01/13     8.000       1,000,000    
  150     Choctaw Resort Development Enterprise, Rule 144A, Senior Notes (Callable 11/15/11 @ $103.63) ‡   (BB , Ba2)   11/15/19     7.250       148,500    
  375     Fontainebleau Las Vegas Holdings LLC/Fontainebleau Las Vegas Capital Corp., Rule 144A, Mortgage Notes
(Callable 06/15/11 @ $105.13) ‡
  (CCC+ , Caa1)   06/15/15     10.250       371,250    
  525     Herbst Gaming, Inc., Global Senior Subordinated Notes (Callable 06/01/08 @ $104.06)   (B- , B3)   06/01/12     8.125       532,875    
  475     Inn of the Mountain Gods, Global Senior Notes (Callable 11/15/07 @ $106.00)   (B- , B3)   11/15/10     12.000       511,812    
  1,100     Jacobs Entertainment, Inc., Global Company Guaranteed Notes (Callable 06/15/10 @ $104.88)   (B- , B3)   06/15/14     9.750       1,148,125    
  425     Majestic Star Casino LLC, Company Guaranteed Notes (Callable 10/15/07 @ $104.75)   (B+ , B1)   10/15/10     9.500       444,125    
  550     Majestic Star Casino LLC, Global Senior Unsecured Notes (Callable 10/15/08 @ $104.88)   (CCC+ , Caa1)   01/15/11     9.750       534,875    
  725     MGM Mirage, Inc., Company Guaranteed Notes   (BB , Ba2)   06/01/16     7.500       691,469    
  700     MGM Mirage, Inc., Company Guaranteed Notes   (BB , Ba2)   01/15/17     7.625       669,375    
  125     MGM Mirage, Inc., Global Company Guaranteed Notes   (BB , Ba2)   04/01/13     6.750       119,375    
  625     Trump Entertainment Resorts, Inc., Secured Notes (Callable 06/01/10 @ $104.25)   (B- , Caa1)   06/01/15     8.500       623,437    
  500     Turning Stone Resort Casino Enterprise, Rule 144A, Senior Notes (Callable 09/15/10 @ $104.56) ‡   (B+ , B1)   09/15/14     9.125       511,250    
  175     Waterford Gaming LLC, Rule 144A, Senior Notes (Callable 09/15/08 @ $103.55) ‡   (BB- , B1)   09/15/12     8.625       183,312    
  1,325     Wimar Opco LLC, Rule 144A, Senior Subordinated Notes (Callable 12/15/10 @ $104.81) ‡   (CCC+ , B3)   12/15/14     9.625       1,281,937    
  500     Wynn Las Vegas LLC, Global First Mortgage Notes (Callable 12/01/09 @ $103.31)   (BB+ , B1)   12/01/14     6.625       484,375    
                      9,984,717    
Gas Distribution (1.4%)      
  1,150     El Paso Performance-Link, Rule 144A, Notes ‡   (NR , Ba3)   07/15/11     7.750       1,190,250    
  525     Inergy LP/Inergy Finance Corp., Global Company Guaranteed Notes (Callable 03/01/11 @ $104.13)   (B , B1)   03/01/16     8.250       542,062    
  775     Williams Companies, Inc., Notes   (BB , Ba2)   03/15/12     8.125       826,344    
  400     Williams Partners LP/Williams Partners Finance Corp., Global Company Guaranteed Notes   (BB+ , Ba3)   02/01/17     7.250       404,000    
                      2,962,656    

 

See Accompanying Notes to Financial Statements.
5



Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments (continued)

June 30, 2007 (unaudited)

Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%   Value  
U.S. CORPORATE BONDS      
Health Services (5.3%)      
$ 225     Community Health Systems, Inc., Rule 144A, Senior Notes (Callable 07/15/11 @ $104.44) ‡   (B- , B3)   07/15/15     8.875     $ 229,219    
  700     HCA, Inc., Global Senior Unsecured Notes   (B- , Caa1)   01/15/15     6.375       596,750    
  3,200     HCA, Inc., Global Senior Unsecured Notes   (B- , Caa1)   02/15/16     6.500       2,724,000    
  1,225     HCA, Inc., Rule 144A, Secured Notes (Callable 11/15/11 @ $104.63) ‡   (BB- , B2)   11/15/16     9.250       1,307,687    
  400     HCA, Inc., Senior Unsecured Notes   (B- , Caa1)   02/15/13     6.250       362,000    
  800     Healthsouth Corp., Global Company Guaranteed Notes (Callable 06/15/11 @ $105.38)   (CCC+ , Caa1)   06/15/16     10.750       872,000    
  650     Iasis Healthcare/Capital Corp., Global Senior Subordinated Notes (Callable 06/15/09 @ $104.38)   (CCC+ , B3)   06/15/14     8.750       653,250    
  100     Service Corp International, Rule 144A, Senior Notes ‡   (BB- , B1)   04/01/15     6.750       96,875    
  550     Stewart Enterprises, Inc., Global Senior Notes (Callable 02/15/09 @ $103.13)   (B+ , Ba3)   02/15/13     6.250       532,125    
  1,500     Tenet Healthcare Corp., Global Senior Notes   (CCC+ , Caa1)   07/01/14     9.875       1,492,500    
  500     Tenet Healthcare Corp., Global Senior Notes   (CCC+ , Caa1)   02/01/15     9.250       477,500    
  650     Triad Hospitals, Inc., Senior Subordinated Notes (Callable 11/15/08 @ $103.50)   (B+ , B2)   11/15/13     7.000       684,904    
  275     Universal Hospital Services. Inc., Rule 144A, Secured Notes (Callable 06/01/09 @ $102.00) ‡#   (B+ , B3)   06/01/15     8.759       276,375    
  300     Universal Hospital Services. Inc., Rule 144A, Secured Notes (Callable 06/01/11 @ $104.25) ‡   (B+ , B3)   06/01/15     8.500       298,500    
  950     Vanguard Health Holding Co., Global Senior Subordinated Notes (Callable 10/01/09 @ $104.50)   (CCC+ , Caa1)   10/01/14     9.000       945,250    
                      11,548,935    
Hotels (0.9%)      
  500     Bluegreen Corp., Series B, Company Guaranteed Notes (Callable 08/13/07 @ $100.00)   (B- , B3)   04/01/08     10.500       502,500    
  425     Felcor Lodging LP, Global Company Guaranteed Notes   (B+ , Ba3)   06/01/11     8.500       448,906    
  250     Host Hotels & Resorts LP, Company Guaranteed Notes (Callable 11/01/10 @ $103.44)   (BB , Ba1)   11/01/14     6.875       248,437    
  825     Host Marriott LP, Global Company Guaranteed Notes (Callable 06/01/11 @ $103.33)   (BB , Ba1)   06/01/16     6.750       812,625    
                      2,012,468    
Household & Leisure Products (1.0%)      
  650     ALH Finance LLC, Senior Subordinated Notes (Callable 01/15/09 @ $104.25)   (CCC+ , B3)   01/15/13     8.500       648,375    
  400     Ames True Temper, Inc., Global Company Guaranteed Notes (Callable 08/13/07 @ $103.00)   (CCC+ , Caa1)   01/15/12     7.141       405,000    
  600     Ames True Temper, Inc., Global Senior Subordinated Notes (Callable 07/15/08 @ $105.00)   (CCC- , Caa3)   07/15/12     10.000       570,000    
  325     Sealy Mattress Co., Global Senior Subordinated Notes (Callable 06/15/09 @ $104.13)   (B , B2)   06/15/14     8.250       334,750    
  225     Simmons Bedding Co., Global Senior Subordinated Notes (Callable 01/15/09 @ $103.94)   (CCC+ , B2)   01/15/14     7.875       225,000    
                      2,183,125    
Leisure (0.8%)      
  350     Bally Total Fitness Holding Corp., Global Senior Notes (Callable 08/13/07 @ $105.25) §   (D , Ca)   07/15/11     10.500       377,563    
  675     Six Flags, Inc., Global Senior Notes (Callable 04/15/08 @ $104.88) §   (CCC , Caa1)   04/15/13     9.750       638,719    
  700     Six Flags, Inc., Global Senior Notes (Callable 06/01/09 @ $104.81) §   (CCC , Caa1)   06/01/14     9.625       652,750    
                      1,669,032    
Machinery (0.5%)      
  525     Baldor Electric Co., Company Guaranteed Notes (Callable 02/15/12 @ $104.31)   (B , B3)   02/15/17     8.625       557,813    
  450     Case New Holland, Inc., Global Company Guaranteed Notes (Callable 08/01/07 @ $104.63)   (BB+ , Ba3)   08/01/11     9.250       473,940    
                      1,031,753    
Media - Broadcast (2.8%)      
  525     Allbritton Communications Co., Global Senior Subordinated Notes (Callable 12/15/07 @ $103.88)   (B- , B1)   12/15/12     7.750       530,250    
  525     Barrington Broadcasting Group LLC, Rule 144A, Senior Subordinated Notes (Callable 08/15/10 @ $105.25) ‡   (CCC+ , B3)   08/15/14     10.500       549,938    
  575     CMP Susquehanna Corp., Rule 144A, Senior Subordinated Notes (Callable 05/15/10 @ $104.94) ‡   (CCC , B3)   05/15/14     9.875       577,875    
  300     Fisher Communications, Inc., Global Senior Notes (Callable 09/15/09 @ $104.31)   (B- , B2)   09/15/14     8.625       321,000    
  850     ION Media Networks, Inc., Rule 144A, Secured Notes (Callable 01/15/08 @ $102.00) ‡   (CCC- , Caa2)   01/15/13     10.777       881,875    
  575     Local TV Finance LLC, Rule 144A, Senior Unsecured Notes (Callable 06/15/11 @ $104.63) ‡   (CCC+ , Caa1)   06/15/15     9.250       572,125    
  500     Sirius Satellite Radio, Inc., Global Senior Unsecured Notes (Callable 09/01/09 @ $104.81)   (CCC , Caa2)   08/01/13     9.625       492,500    
  985     Univision Communications, Inc., Rule 144A, Senior Notes (Callable 03/15/11 @ $104.88) ‡   (CCC+ , B3)   03/15/15     9.750       977,613    
  400     XM Satellite Radio, Inc., Global Company Guaranteed Notes (Callable 05/01/08 @ $102.00)   (CCC , Caa1)   05/01/13     9.989       388,000    
  925     Young Broadcasting, Inc., Global Senior Subordinated Notes (Callable 01/15/09 @ $104.38)   (CCC- , Caa1)   01/15/14     8.750       878,750    
                      6,169,926    

 

See Accompanying Notes to Financial Statements.
6



Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments (continued)

June 30, 2007 (unaudited)

Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%   Value  
U.S. CORPORATE BONDS      
Media - Cable (5.5%)      
$ 1,050     Atlantic Broadband Finance LLC, Global Company Guaranteed Notes (Callable 01/15/09 @ $104.69)   (CCC+ , Caa1)   01/15/14     9.375     $ 1,065,750    
  1,500     CCH I Holdings LLC, Global Company Guaranteed Notes (Callable 09/30/07 @ $100.00) §   (CCC , Caa3)   04/01/14     9.920       1,395,000    
  1,662     CCH I Holdings LLC, Global Secured Notes (Callable 10/01/10 @ $105.50)   (CCC , Caa2)   10/01/15     11.000       1,743,023    
  1,450     CCO Holdings LLC, Global Senior Notes (Callable 11/15/08 @ $104.38)   (CCC , Caa1)   11/15/13     8.750       1,482,625    
  495     Charter Communications Holdings LLC, Senior Discount Notes (Callable 08/13/07 @ $100.00)   (CCC , Caa3)   04/01/11     9.920       495,619    
  1,200     CSC Holdings, Inc., Global Senior Notes   (B+ , B2)   04/15/12     7.250       1,146,000    
  655     CSC Holdings, Inc., Senior Notes   (B+ , B2)   04/01/11     7.625       653,363    
  250     DirecTV Holdings LLC, Global Senior Notes (Callable 03/15/08 @ $104.19)   (BB- , Ba3)   03/15/13     8.375       262,813    
  750     Echostar DBS Corp., Global Company Guaranteed Notes   (BB- , Ba3)   10/01/14     6.625       718,125    
  300     GCI, Inc., Global Senior Unsecured Notes (Callable 02/15/09 @ $103.63)   (B , B1)   02/15/14     7.250       285,000    
  250     Insight Communications Co., Inc., Senior Discount Notes (Callable 08/13/07 @ $104.08) +   (CCC+ , B3)   02/15/11     0.000       261,875    
  259     Insight Midwest/Insight Capital, Senior Notes (Callable 08/13/07 @ $101.63)   (B , B3)   10/01/09     9.750       261,590    
  1,150     Mediacom Broadband LLC, Global Senior Notes (Callable 10/15/10 @ $104.25)   (B , B3)   10/15/15     8.500       1,161,500    
  525     Mediacom LLC/Capital Corp., Senior Notes (Callable 08/13/07 @ $101.97)   (B , B3)   02/15/11     7.875       525,000    
  600     TL Acquisitions, Inc., Rule 144A, Senior Notes (Callable 07/15/11 @ $105.25) ‡   (CCC , Caa1)   01/15/15     10.500       592,344    
                      12,049,627    
Media - Services (0.2%)      
  475     WMG Holdings Corp., Global Company Guaranteed Notes (Callable 12/15/09 @ $104.75) +   (B , B2)   12/15/14     0.000       363,375    
Metals & Mining Excluding Steel (2.0%)      
  125     Aleris International, Inc., Rule 144A, Senior Notes (Callable 12/15/10 @ $104.5) ‡   (B- , B3e)   12/15/14     9.000       126,719    
  675     Aleris International, Inc., Rule 144A, Senior Subordinated Notes (Callable 12/15/11 @ $105.00) ‡   (B- , Caa1)   12/15/16     10.000       673,313    
  500     Alpha Natural Resources, Global Company Guaranteed Notes (Callable 06/01/08 @ $105.00)   (B- , B3)   06/01/12     10.000       530,000    
  625     Freeport-McMoRan Copper & Gold, Inc., Senior Unsecured Notes (Callable 04/01/11 @ $104.13)   (BB , Ba3)   04/01/15     8.250       660,938    
  625     Freeport-McMoRan Copper & Gold, Inc., Senior Unsecured Notes (Callable 04/01/12 @ $104.19)   (BB , Ba3)   04/01/17     8.375       668,750    
  1,050     Noranda Aluminium Acquisition Corp., Rule 144A, Senior Unsecured Notes
(Callable 05/15/08 @ $102.00) ‡#
  (CCC+ , B3)   05/15/15     9.360       1,018,500    
  675     Southern Copper Corp., Global Senior Notes   (BBB- , Baa2)   07/27/35     7.500       726,325    
                      4,404,545    
Non-Food & Drug Retailers (4.1%)      
  250     Affinity Group, Inc., Global Senior Subordinated Notes (Callable 02/15/08 @ $104.50)   (CCC+ , B3)   02/15/12     9.000       267,500    
  855     Affinity Group, Inc., Global Senior Subordinated Notes (Callable 02/15/08 @ $105.44)   (CCC+ , Caa1)   02/15/12     10.875       915,337    
  525     Asbury Automotive Group, Inc., Rule 144A, Senior Subordinated Notes (Callable 03/15/12 @ $103.81) ‡   (B , B3)   03/15/17     7.625       519,750    
  825     Brookstone Co., Inc., Global Secured Notes (Callable 10/15/09 @ $106.00) §   (B , Caa1)   10/15/12     12.000       849,750    
  825     Claire's Stores, Inc., Rule 144A, Senior Notes (Callable 06/01/11 @ $104.81) ‡   (CCC+ , Caa1)   06/01/15     9.625       767,250    
  650     Finlay Fine Jewelry Corp., Global Senior Notes (Callable 06/01/08 @ $104.19)   (B- , Caa1)   06/01/12     8.375       578,500    
  703     Flooring America, Inc., Series B, Company Guaranteed Notes ^Ø   (NR , NR)   10/15/07     9.250       0    
  525     GSC Holdings Corp., Global Company Guaranteed Notes (Callable 10/01/09 @ $104.00)   (BB- , Ba3)   10/01/12     8.000       551,250    
  300     Michaels Stores, Inc., Rule 144A, Senior Notes (Callable 11/01/10 @ $105.00) ‡   (CCC , B2)   11/01/14     10.000       309,000    
  700     Michaels Stores, Inc., Rule 144A, Senior Subordinated Notes (Callable 11/01/11 @ $105.69) ‡   (CCC , Caa1)   11/01/16     11.375       735,000    
  500     Nebraska Book Co, Inc., Global Company Guaranteed Notes (Callable 03/15/08 @ $104.31)   (CCC , B3)   03/15/12     8.625       498,750    
  1,000     Neiman-Marcus Group, Inc., Global Company Guaranteed Notes (Callable 10/15/10 @ $105.19)   (B- , B3)   10/15/15     10.375       1,105,000    
  650     PCA LLC, Global Senior Notes Ø   (NR , NR)   08/01/09     11.875       37,375    
  400     SGS International, Inc., Global Company Guaranteed Notes (Callable 12/15/09 @ $106.00)   (B- , B3)   12/15/13     12.000       438,000    
  547     Susser Holdings LLC, Global Company Guaranteed Notes (Callable 12/15/09 @ $105.31)   (B+ , B2)   12/15/13     10.625       596,230    
  50     Yankee Acquisition Corp., Series B, Global Company Guaranteed Notes (Callable 02/15/11 @ $104.25)   (CCC+ , B3)   02/15/15     8.500       48,750    
  750     Yankee Acquisition Corp., Series B, Global Company Guaranteed Notes (Callable 02/15/12 @ $104.88) §   (CCC+ , Caa1)   02/15/17     9.750       729,375    
                      8,946,817    
Office Equipment (0.1%)      
  200     IKON Office Solutions, Inc., Global Senior Notes (Callable 09/15/10 @ $103.88)   (BB , Ba3)   09/15/15     7.750       204,543    
Oil Refining & Marketing (0.1%)      
  200     Giant Industries, Inc., Company Guaranteed Notes (Callable 05/15/09 @ $104.00)   (B , B2)   05/15/14     8.000       216,460    

 

See Accompanying Notes to Financial Statements.
7



Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments (continued)

June 30, 2007 (unaudited)

Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%   Value  
U.S. CORPORATE BONDS      
Packaging (2.9%)      
$ 850     Berry Plastics Holding Corp., Global Company Guaranteed Notes (Callable 03/01/11 @ $105.13)   (CCC+ , Caa2)   03/01/16     10.250     $ 854,250    
  840     Berry Plastics Holding Corp., Global Secured Notes (Callable 09/15/10 @ $104.44)   (B , B3)   09/15/14     8.875       854,700    
  1,025     Constar International, Inc., Senior Subordinated Notes (Callable 12/01/07 @ $105.50) §   (CCC , Caa2)   12/01/12     11.000       937,875    
  410     Crown Americas LLC, Global Senior Notes (Callable 11/15/10 @ $103.88)   (B , B1)   11/15/15     7.750       414,100    
  25     Graham Packaging Co, Inc., Global Company Guaranteed Notes (Callable 10/15/08 @ $104.25)   (CCC+ , Caa1)   10/15/12     8.500       25,281    
  775     Graham Packaging Co, Inc., Global Company Guaranteed Notes (Callable 10/15/09 @ $104.94) §   (CCC+ , Caa1)   10/15/14     9.875       787,594    
  680     Owens Brockway Glass Container, Inc., Global Company Guaranteed Notes (Callable 05/15/08 @ $104.13)   (B , B3)   05/15/13     8.250       707,200    
  725     Pliant Corp., Global Secured Notes (Callable 08/13/07 @ $105.56)   (CCC , Caa1)   09/01/09     11.125       714,125    
  1,175     Solo Cup Co., Global Senior Subordinated Notes (Callable 02/15/09 @ $104.25)   (CCC- , Caa2)   02/15/14     8.500       1,034,000    
                      6,329,125    
Printing & Publishing (3.7%)      
  775     American Media Operations, Inc., Series B, Global Company Guaranteed Notes (Callable 08/13/07 @ $100.00) §   (CCC- , Caa2)   05/01/09     10.250       738,188    
  875     CBD Media Holdings Finance, Inc., Global Senior Subordinated Notes (Callable 07/15/08 @ $104.63)   (CCC+ , Caa1)   07/15/12     9.250       910,000    
  200     Deluxe Corp., Rule 144A, Senior Notes (Callable 06/01/11 @ $103.69) ‡   (BB- , Ba2)   06/01/15     7.375       200,000    
  350     Dex Media, Inc., Global Discount Notes (Callable 11/15/08 @ $104.50) +   (B , B3)   11/15/13     0.000       331,188    
  750     Haights Cross Operating Co., Global Company Guaranteed Notes (Callable 08/15/08 @ $105.88)   (CCC- , Caa2)   08/15/11     11.750       797,813    
  525     Idearc, Inc., Global Company Guaranteed Notes (Callable 11/15/11 @ 104.00)   (B+ , B2)   11/15/16     8.000       532,875    
  2,000     Premier Graphics, Inc., Company Guaranteed Notes ^Ø   (NR , NR)   12/01/05     11.500       0    
  900     R.H. Donnelley Corp., Series A-2 Global Senior Discount Notes (Callable 01/15/09 @ $103.44)   (B , B3)   01/15/13     6.875       857,250    
  150     R.H. Donnelley Corp., Series A-3, Global Senior Notes (Callable 01/15/11 @ $104.44)   (B , B3)   01/15/16     8.875       156,750    
  1,600     R.H. Donnelley Corp., Global Senior Unsecured Notes (Callable 01/15/09 @ $103.44)   (B , B3)   01/15/13     6.875       1,524,000    
  850     Reader's Digest Association, Inc., Rule 144A, Senior Subordinated Notes (Callable 02/15/12 @ $104.50) ‡   (CCC+ , Caa1)   02/15/17     9.000       799,000    
  775     Valassis Communications, Inc., Rule 144A, Senior Notes (Callable 03/01/11 @ $104.13) ‡   (B- , B3)   03/01/15     8.250       759,500    
  400     Vertis, Inc., Global Company Guaranteed Notes (Callable 08/13/07 @ $102.72) §   (CCC , Caa1)   06/15/09     10.875       394,000    
                      8,000,564    
Restaurants (1.0%)      
  850     Buffets, Inc., Global Company Guaranteed Notes (Callable 11/01/10 @ $106.25)   (CCC , Caa1)   11/01/14     12.500       818,125    
  475     Denny's Corp., Global Company Guaranteed Notes (Callable 10/01/08 @ $105.00)   (B- , B3)   10/01/12     10.000       503,500    
  600     Friendly Ice Cream Corp., Global Senior Notes (Callable 06/15/08 @ $104.19) §   (CCC+ , Caa1)   06/15/12     8.375       630,000    
  275     OSI Restaurant Partners, Inc., Rule 144A, Senior Notes (Callable 06/15/11 @ $105.00) ‡   (CCC+ , Caa1)   06/15/15     10.000       264,000    
                      2,215,625    
Software/Services (0.9%)      
  1,750     SunGard Data Systems, Inc., Global Company Guaranteed Notes (Callable 08/15/10 @ $105.13)   (B- , Caa1)   08/15/15     10.250       1,859,375    
Steel Producers/Products (1.2%)      
  83     AK Steel Corp., Company Guaranteed Notes (Callable 08/13/07 @ $100.00)   (B+ , B2)   02/15/09     7.875       83,208    
  575     AK Steel Corp., Global Company Guaranteed Notes (Callable 08/13/07 @ $103.88)   (B+ , B2)   06/15/12     7.750       577,875    
  725     PNA Group, Inc., Rule 144A, Senior Notes (Callable 09/01/11 @ $105.38) ‡   (B- , B3)   09/01/16     10.750       793,875    
  250     PNA Holding Corp., Rule 144A, Senior Notes (Callable 02/15/08 @ $102.00) ‡   (B- , Caa1)   02/15/13     12.360       253,750    
  800     RathGibson, Inc., Global Company Guaranteed Notes (Callable 02/15/10 @ $105.63)   (B- , B3)   02/15/14     11.250       844,000    
  0     WCI Steel Acquisition, Inc., Senior Notes 1   (NR , NR)   05/01/16     8.000       336    
  250     WCI Steel, Escrow Ø   (NR , NR)   12/01/04     10.000       9,678    
                      2,562,722    
Support - Services (5.4%)      
  400     Allied Security Escrow Corp., Global Senior Subordinated Notes (Callable 07/15/08 @ $105.69)   (CCC+ , Caa1)   07/15/11     11.375       404,000    
  200     Aramark Corp., Rule 144A, Senior Notes (Callable 02/01/09 @ $102.00) ‡   (B- , B3e)   02/01/15     8.860       204,000    
  300     Aramark Corp., Rule 144A, Senior Notes (Callable 02/01/11 @ $104.25) ‡   (B- , B)   02/01/15     8.500       306,750    
  200     Ashtead Capital, Inc., Rule 144A, Notes (Callable 08/15/11 @ $104.50) ‡   (B , B3)   08/15/16     9.000       210,500    
  100     Education Management LLC, Senior Notes (Callable 06/01/10 @ $104.38)   (CCC+ , B2)   06/01/14     8.750       103,000    
  675     Education Management LLC, Senior Subordinated Notes (Callable 06/01/11 @ $105.13)   (CCC+ , Caa1)   06/01/16     10.250       713,813    
  300     Hertz Corp., Senior Notes (Callable 01/01/10 @ $104.44)   (B , B1)   01/01/14     8.875       314,250    
  400     Hertz Corp., Senior Subordinated Notes (Callable 01/01/11 @ $105.25)   (B , B2)   01/01/16     10.500       444,000    

 

See Accompanying Notes to Financial Statements.
8



Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments (continued)

June 30, 2007 (unaudited)

Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%   Value  
U.S. CORPORATE BONDS      
Support - Services      
$ 740     HydroChem Industrial Services, Rule 144A, Senior Subordinated Notes (Callable 02/15/09 @ $104.63) ‡   (CCC+ , Caa1)   02/15/13     9.250     $ 765,900    
  250     Iron Mountain, Inc., Company Guaranteed Notes (Callable 07/01/08 @ $103.31)   (B , B3)   01/01/16     6.625       230,625    
  350     Iron Mountain, Inc., Company Guaranteed Notes (Callable 08/13/07 @ $102.88)   (B , B3)   04/01/13     8.625       352,625    
  1,100     Johnsondiversey Holdings, Inc., Global Discount Notes (Callable 08/13/07 @ $105.34) +   (CCC+ , Caa1)   05/15/13     0.000       1,144,000    
  475     KAR Holdings, Inc., Rule 144A, Senior Notes (Callable 05/01/10 @ $104.38) ‡   (CCC , B3)   05/01/14     8.750       467,875    
  425     KAR Holdings, Inc., Rule 144A, Senior Subordinated Notes (Callable 04/01/11 @ $105.00) ‡   (CCC , Caa1)   05/01/15     10.000       416,500    
  650     Mobile Services Group, Inc., Rule 144A, Senior Notes (Callable 08/01/10 @ $104.88) ‡   (B- , B3)   08/01/14     9.750       695,500    
  800     Neff Corp., Rule 144A, Senior Notes (Callable 06/01/11 @ $105.00) ‡   (B- , Caa2)   06/01/15     10.000       802,000    
  725     Rental Service Corp., Rule 144A, Bonds (Callable 12/01/10 @ $104.75) ‡   (B- , Caa1)   12/01/14     9.500       743,125    
  1,175     Travelport LLC, Global Company Guaranteed Notes (Callable 09/01/11 @ $105.94)   (CCC+ , Caa1)   09/01/16     11.875       1,302,781    
  1,050     United Rentals North America, Inc., Global Senior Subordinated Notes (Callable 02/15/09 @ $103.50) §   (B , B3)   02/15/14     7.000       1,029,000    
  575     Varietal Distribution Merger Sub, Inc., Rule 144A, Senior Notes (Callable 07/15/11 @ $105.13) ‡   (CCC+ , Caa1)   07/15/15     10.250       576,438    
  525     Williams Scotsman, Inc., Global Company Guaranteed Notes (Callable 10/01/10 @ $104.25)   (B+ , B3)   10/01/15     8.500       544,688    
                      11,771,370    
Telecom - Fixed Line (1.2%)      
  375     Level 3 Financing, Inc., Global Company Guaranteed Notes (Callable 11/01/10 @ $104.63)   (CCC+ , B3)   11/01/14     9.250       380,625    
  1,375     Level 3 Financing, Inc., Rule 144A, Senior Notes (Callable 02/15/09 @ $102.00) ‡#   (CCC+ , B3)   02/15/15     9.150       1,381,875    
  275     PAETEC Holding Corp., Rule 144A, Senior Notes (Callable 07/15/11 @ $104.75) ‡   (CCC+ , Caa1)   07/15/15     9.500       275,000    
  500     Time Warner Telecom Holdings, Inc., Global Company Guaranteed Notes (Callable 02/15/09 @ $104.63)   (CCC+ , B3)   02/15/14     9.250       532,500    
                      2,570,000    
Telecom - Integrated/Services (2.0%)      
  650     Cincinnati Bell, Inc., Global Company Guaranteed Notes (Callable 01/15/09 @ $104.19)   (B- , B2)   01/15/14     8.375       659,750    
  425     Hawaiian Telcom Communications, Inc., Global Company Guaranteed Notes (Callable 05/01/10 @ $106.25) §   (CCC , Caa1)   05/01/15     12.500       484,500    
  525     Hughes Network Systems LLC, Global Company Guaranteed Notes (Callable 04/15/10 @ $104.75)   (B- , B1)   04/15/14     9.500       551,250    
  1,025     Qwest Communications International, Inc., Global Company Guaranteed Notes (Callable 02/15/08 @ $103.63)   (B+ , Ba3)   02/15/11     7.250       1,037,813    
  475     Qwest Communications International, Inc., Global Company Guaranteed Notes (Callable 02/15/09 @ $103.75)   (B , Ba3)   02/15/14     7.500       483,313    
  120     Qwest Corp., Global Senior Notes   (BBB- , Ba1)   06/15/15     7.625       124,500    
  75     Qwest Corp., Global Senior Unsecured Notes   (BBB- , Ba1)   10/01/14     7.500       77,250    
  225     Windstream Corp., Global Company Guaranteed Notes   (BB- , Ba3)   08/01/13     8.125       236,250    
  75     Windstream Corp., Global Company Guaranteed Notes (Callable 03/15/12 @ $103.50)   (NR , Ba3)   03/15/19     7.000       72,000    
  600     Windstream Corp., Global Company Guaranteed Notes (Callable 8/01/11 @ $104.31)   (BB- , Ba3)   08/01/16     8.625       637,500    
                      4,364,126    
Telecom - Wireless (2.0%)      
  375     Centennial Cellular Communications Corp., Global Company Guaranteed Notes (Callable 06/15/08 @ $105.06)   (CCC , B2)   06/15/13     10.125       404,063    
  925     Cricket Communications, Inc., Global Company Guaranteed Notes (Callable 11/01/10 @ $104.69)   (CCC , Caa1)   11/01/14     9.375       959,688    
  975     Dobson Communications Corp., Global Senior Notes (Callable 10/01/08 @ $104.44) §   (CCC , Caa1)   10/01/13     8.875       1,023,750    
  725     MetroPCS Wireless, Inc., Rule 144A, Senior Notes (Callable 11/01/10 @ $104.63) ‡   (CCC , Caa1)   11/01/14     9.250       752,188    
  525     Rural Cellular Corp., Rule 144A, Senior Subordinated Notes (Callable 06/01/08 @ $102.00) ‡#   (CCC , Caa2)   06/01/13     8.360       525,000    
  625     Suncom Wireless, Inc., Global Company Guaranteed Notes (Callable 06/01/08 @ $104.25)   (CCC- , Caa2)   06/01/13     8.500       642,188    
                      4,306,877    
Theaters & Entertainment (0.7%)      
  775     AMC Entertainment, Inc., Global Senior Subordinated Notes (Callable 03/01/09 @ $104.00)   (CCC+ , B2)   03/01/14     8.000       763,375    
  750     Cinemark, Inc., Global Senior Discount Notes (Callable 03/15/09 @ $104.88) +   (CCC+ , B3)   03/15/14     0.000       686,250    
                      1,449,625    
Transportation Excluding Air/Rail (0.3%)      
  500     Bristow Group, Inc., Rule 144A, Senior Notes (Callable 09/15/12) @ $103.75) ‡   (BB , Ba2)   09/15/17     7.500       503,750    
  195     H-Line Finance Holding Corp., Global Senior Discount Notes (Callable 04/01/08 @ $105.50) +   (B , Caa1)   04/01/13     0.000       192,075    
                      695,825    
    TOTAL U.S. CORPORATE BONDS (Cost $190,832,048)                     191,906,697    

 

See Accompanying Notes to Financial Statements.
9



Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments (continued)

June 30, 2007 (unaudited)

Number
of Shares
 
        Value  
COMMON STOCKS (1.0%)      
Automobile Parts & Equipment (0.0%)      
  774,557     Cambridge Industries Liquidating Trust ^*         $ 0    
  1,219     Safelite Realty Corp. ^*           9,752    
                  9,752    
Chemicals (0.1%)      
  4,893     Huntsman Corp.           118,949    
Consumer - Products (0.0%)      
  20,689     Indesco Liquid Dispensing Co. ^*           0    
Electric - Integrated (0.3%)      
  14,300     Mirant Corp. *           609,895    
Food - Wholesale (0.4%)      
  590     Crunch Equity Holdings LLC *           944,648    
Gaming (0.0%)      
  12,000     Progressive Gaming International Corp. *           70,440    
Media - Cable (0.0%)      
  750,000     Adelphia Recovery Trust ^*           0    
Packaging (0.0%)      
  4     Pliant Corp. ^*           0    
Printing & Publishing (0.1%)      
  10,652     Mail Well, Inc., Rule 144A ‡*           247,020    
Restaurants (0.0%)      
  5     Roma Restaurant Holdings, Inc., ^*           90    
Steel Producers/Products (0.1%)      
  2,787     WCI Steel Acquisition, Inc. *           98,939    
        TOTAL COMMON STOCKS (Cost $2,514,142)           2,099,733    
PREFERRED STOCKS (0.0%)      
Media - Cable (0.0%)      
  7,500     Adelphia Communications Corp., 13% cumulative Series B (Callable 07/15/07 @ $102.17) ^*
(Cost $0)
 
 
 
    0
   
WARRANTS (0.0%)      
Building Materials (0.0%)      
  1,250     Dayton Superior Corp., strike price $0.01, Rule 144A, expires 06/15/09 ‡^*
(Cost $25,000)
 
 
 
    13
   
        TOTAL U.S. SECURITIES (Cost $193,371,190)           194,006,443    
Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%    
FOREIGN CORPORATE BONDS (8.8%)      
Apparel/Textiles (0.1%)      
$ 150     IT Holdings Finance SA, Rule 144A, Senior Notes (Luxembourg) ‡   (CCC+ , B3)   11/15/12     9.875       220,308    

 

See Accompanying Notes to Financial Statements.
10



Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments (continued)

June 30, 2007 (unaudited)

Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%   Value  
FOREIGN CORPORATE BONDS      
Building Materials (0.2%)      
$ 750     MAAX Corp., Global Senior Subordinated Notes (Callable 06/15/08 @ $104.88) (Canada)   (CC , Caa3)   06/15/12     9.750     $ 495,000    
Chemicals (0.7%)      
  775     Basell AF SCA, Rule 144A, Company Guaranteed Notes (Callable 08/15/10 @ $104.19) (Luxembourg) ‡   (B- , B2)   08/15/15     8.375       745,938    
  850     Ineos Group Holdings PLC, Rule 144A, Senior Subordinated Notes
(Callable 02/15/11 @ $104.25) (United Kingdom) ‡
  (B- , B2)   02/15/16     8.500       835,125    
                      1,581,063    
Electronics (1.1%)      
  300     Avago Technologies Finance PTE, Global Company Guaranteed Notes (Callable 12/01/09 @ $105.06) (Singapore)   (B , B2)   12/01/13     10.125       321,000    
  400     Avago Technologies Finance PTE, Global Company Guaranteed Notes
(Callable 12/01/10 @ $105.94) (Singapore) §
  (CCC+ , Caa1)   12/01/15     11.875       449,000    
  250     Magnachip Semiconductor, Senior Subordinated Notes (Callable 12/15/09 @ $104.00) (Luxembourg)   (CCC+ , Caa1)   12/15/14     8.000       183,750    
  1,150     NXP BV / NXP Funding LLC, Global Company Guaranteed Notes (Callable 10/15/11 @ $104.75) (Netherlands)   (B+ , B2)   10/15/15     9.500       1,138,500    
  225     NXP BV / NXP Funding LLC, Global Secured Notes (Callable 10/15/10 @ $103.94) (Netherlands)   (BB+ , Ba2)   10/15/14     7.875       222,750    
                      2,315,000    
Energy - Exploration & Production (0.2%)      
  325     OPTI Canada, Inc., Rule 144A, Company Guaranteed Notes (Callable 12/15/10 @ $104.13) (Canada) ‡   (BB+ , B1)   12/15/14     8.250       331,500    
Forestry & Paper (1.1%)      
  350     Abitibi-Consolidated, Inc., Global Notes (Canada)   (B , B3)   06/15/11     7.750       322,000    
  700     Abitibi-Consolidated, Inc., Yankee Senior Notes (Canada)   (B , B3)   04/01/15     8.375       616,000    
  550     Bowater Canada Finance Corp., Global Company Guaranteed Notes (Canada)   (B , B3)   11/15/11     7.950       520,438    
  46     Smurfit Kappa Funding PLC, Global Senior Notes (Callable 10/1/07 @ $104.81) (Ireland)   (B , B2)   10/01/12     9.625       48,415    
  750     Smurfit Kappa Funding PLC, Global Senior Subordinated Notes (Callable 01/31/10 @ $103.88) (Ireland)   (B , B2)   04/01/15     7.750       754,688    
  235     Tembec Industries, Inc., Global Company Guaranteed Notes (Canada)   (CCC- , Ca)   03/15/12     7.750       124,256    
                      2,385,797    
Health Services (0.2%)      
  400     FMC Finance III SA, Rule 144A, Senior Notes (Luxembourg)   (BB- , Ba3)   07/15/17     6.875       394,000    
Leisure (0.3%)      
  750     NCL Corp., Global Senior Unsubordinated Notes (Callable 07/15/09 @ $105.31) (Bermuda)   (B , B3)   07/15/14     10.625       727,500    
Media - Broadcast (0.0%)      
  4,600     Australis Holdings Pty. Ltd., Yankee Senior Discount Notes (Australia) ^Ø   (NR , NR)   11/01/02     15.000       0    
Media - Cable (0.8%)      
  393     Telenet Group Holding NV, Rule 144A, Discount Notes (Callable 12/15/08 @ $105.75) (Belgium) ‡+   (CCC+ , B3)   06/15/14     0.000       373,350    
  400     Unity Media GMBH, Rule 144A, Senior Notes (Callable 02/15/10 @ $105.06) ‡ (Germany)   (CCC+ , Caa2)   02/15/15     10.125       575,334    
  350     Virgin Media Finance PLC, Global Company Guaranteed Notes (Callable 04/15/09 @ $104.88) (United Kingdom)   (B- , B2)   04/15/14     9.750       726,800    
  150     Virgin Media Finance PLC, Global Company Guaranteed Notes (Callable 08/15/11 @ $104.56) (United Kingdom)   (B- , B2)   08/15/16     9.125       157,875    
                      1,833,359    
Metals & Mining Excluding Steel (0.0%)      
  800     International Utility Structures, Inc., Subordinated Notes (Callable 08/13/07 @ $100.00) (Canada) ^Ø   (NR , NR)   02/01/08     10.750       0    
  924     International Utility Structures, Inc., Yankee Senior Subordinated Notes
(Callable 08/13/07 @ $100.00) (Canada) ^Ø
  (NR , NR)   02/01/08     13.000       0    
                      0    
Packaging (0.2%)      
  227     Gerresheimer Holdings GMBH, Rule 144A, Company Guaranteed Notes
(Callable 02/15/10 @ $103.94) (Germany) ‡
  (B+ , B2)   03/01/15     7.875       331,684    
Pharmaceuticals (0.2%)      
  500     Elan Finance PLC/Elan Finance Corp., Global Company Guaranteed Notes (Callable 12/01/10 @ $104.44) (Ireland)   (B , B3)   12/01/13     8.875       525,000    

 

See Accompanying Notes to Financial Statements.
11



Credit Suisse Asset Management Income Fund, Inc.

Schedule of Investments (continued)

June 30, 2007 (unaudited)

Par
(000)
 
  Ratings†
(S&P/Moody's)
  Maturity   Rate%   Value  
FOREIGN CORPORATE BONDS      
Printing & Publishing (0.3%)      
$ 525     Quebecor World, Inc., Rule 144A, Senior Notes (Callable 01/15/11 @ $104.88) (Canada) ‡   (B+ , B2)   01/15/15     9.750     $ 534,188    
Support - Services (0.5%)      
  675     Ashtead Holdings PLC, Rule 144A, Secured Notes (Callable 08/01/10 @ $104.31) (United Kingdom) ‡   (B , B3)   08/01/15     8.625       691,875    
  325     Carlson Wagonlit BV, Rule 144A, Bonds (Callable 11/01/07 @ $104.00) (Netherlands) ‡   (B- , B2)   05/15/15     9.306       459,229    
                      1,151,104    
Telecom - Integrated/Services (2.2%)      
  825     Global Crossing UK Finance PLC, Global Company Guaranteed Notes
(Callable 12/15/09 @ $105.38) (United Kingdom)
  (B- , B3)   12/15/14     10.750       899,250    
  350     Hellas II, Rule 144A, Secured Notes (Callable 01/15/08 @ $102.00) (Luxembourg) ‡#   (CCC+ , NR)   01/15/15     11.110       362,250    
  500     Nordic Tel Co., Holdings, Rule 144A, Notes (Callable 08/13//07 @ $102.00) (Denmark) ‡#   (B , B2)   05/01/16     9.513       695,533    
  775     Intelsat Bermuda Ltd., Global Company Guaranteed Notes (Callable 01/15/08 @ $102.00) (Bermuda) #   (B , Caa1)   01/15/15     8.886       795,344    
  1,400     Intelsat Bermuda Ltd., Global Senior Unsecured Notes (Callable 06/15/11 @ $105.63) (Bermuda)   (B- , Caa1)   06/15/16     11.250       1,575,000    
  525     Intelsat Ltd., Global Senior Unsecured Notes (Bermuda)   (B- , Caa1)   11/01/13     6.500       423,938    
                      4,751,315    
Telecommunications Equipment (0.1%)      
  275     Nortel Networks Ltd., Rule 144A, Company Guaranteed Notes (Canada) ‡   (B- , B3)   07/15/11     9.731       293,906    
Transportation Excluding Air/Rail (0.6%)      
  1,100     Ship Finance International Ltd., Global Senior Notes (Callable 12/15/08 @ $104.25) (Bermuda)   (B+ , B1)   12/15/13     8.500       1,138,500    
  250     Stena AB, Global Senior Notes (Callable 12/01/09 @ $103.50) (Sweden)   (BB- , Ba3)   12/01/16     7.000       251,250    
                      1,389,750    
        TOTAL FOREIGN CORPORATE BONDS (Cost $22,644,541)                     19,260,474    
SHORT-TERM INVESTMENTS (11.0%)      
  1,013,000     JP Morgan (Grand Cayman) overnight deposit
(Cost $1,013,000)
 
  07/02/07
    4.390
      1,013,000
   
Number
of Shares
 
 
  23,010,634     Securities Lending Investment Fund, a series of the Brown Brothers Investment Trust §§                     23,010,634    
TOTAL SHORT-TERM INVESTMENTS (Cost $24,023,634)     24,023,634    
TOTAL INVESTMENTS AT VALUE (108.8%) (Cost $240,039,365)     237,290,551    
LIABILITIES IN EXCESS OF OTHER ASSETS (-8.8%)     (19,270,575 )  
NET ASSETS (100.0%)   $ 218,019,976    

 

INVESTMENT ABBREVIATION

NR = Not Rated

†  Credit ratings given by the Standard & Poor's Division of The McGraw-Hill Companies, Inc. ("S&P") and Moody's Investors Service, Inc. ("Moody's") are unaudited.

‡  Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2007 these securities amounted to a value of $47,922,899 or 22.0% of net assets.

^  Not readily marketable security; security is valued at fair value as determined in good faith by, or under the direction of, the Board of Directors.

+  Step Bond - The interest rate stated is the rate as of June 30, 2007 and will reset at a future date.

Ø  Bond is currently in default.

#  Variable rate obligation - The interest rate shown are those in effect at June 30, 2007.

*  Non-income producing security.

§  Security or a portion therof is out on loan.

§§  Represents security purchased with cash collateral received for securities on loan.

1  Less than 1,000 par.

See Accompanying Notes to Financial Statements.
12




Credit Suisse Asset Management Income Fund, Inc.

Statement of Assets and Liabilities

June 30, 2007 (unaudited)

Assets  
Investments at value, including collateral for securities on loan of $23,010,634
(Cost $240,039,365) (Note 2)
  $ 237,290,551 1   
Receivable for investments sold     1,365,518    
Interest and dividends receivable     4,572,582    
Prepaid expenses and other assets     46,084    
Total Assets     243,274,735    
Liabilities  
Due to custodian     283,972    
Investment advisory fees (Note 3)     273,662    
Administrative fees (Note 3)     19,634    
Payable upon return of securities loaned (Note 2)     23,010,634    
Payable for investments purchased     1,483,882    
Directors' fees (Note 3)     38,064    
Unrealized depreciation on forward foreign currency contracts (Note 2)     10,226    
Other accrued expenses payable     134,685    
Total Liabilities     25,254,759    
Net Assets  
Applicable to 49,924,351 shares outstanding   $ 218,019,976    
Net Assets Consist of  
Capital stock, $0.001 par value (Note 6)   $ 49,918    
Paid-in capital (Note 6)     386,663,507    
Distributions in excess of net investment income     (1,575,536 )  
Accumulated net realized loss on investments and foreign currency transactions     (164,369,099 )  
Net unrealized depreciation on investments and foreign currency translations     (2,748,814 )  
Net Assets   $ 218,019,976    
Net Asset Value Per Share ($218,019,976 ÷ 49,924,351)   $ 4.37    
Market Price Per Share   $ 4.29    

 

1  Including $22,541,756 of securities on loan.

See Accompanying Notes to Financial Statements.
13



Credit Suisse Asset Management Income Fund, Inc.

Statement of Operations

For the Six Months Ended June 30, 2007 (unaudited)

Investment Income (Note 2)  
Interest   $ 9,545,332    
Dividends     979    
Securities lending     61,482    
Total investment income     9,607,793    
Expenses  
Investment advisory fees (Note 3)     541,592    
Administrative fees (Note 3)     47,399    
Printing fees (Note 3)     92,638    
Custodian fees     48,550    
Directors' fees and expenses     45,621    
Shareholder servicing fees     31,241    
Legal fees     29,753    
Audit and tax fees     22,934    
Stock exchange listing fees     4,516    
Miscellaneous expense     14,386    
Total expenses     878,630    
Net investment income     8,729,163    
Net Realized and Unrealized Gain (Loss) from Investments and Foreign Currency Related Items  
Net realized gain from investments     3,116,195    
Net realized gain on foreign currency transactions     52,434    
Net change in unrealized appreciation (depreciation) from investments     (2,773,799 )  
Net change in unrealized appreciation from foreign currency translations     25,180    
Net realized and unrealized gain from investments and foreign currency related items     420,010    
Net increase in net assets resulting from operations   $ 9,149,173    

 

See Accompanying Notes to Financial Statements.
14




Credit Suisse Asset Management Income Fund, Inc.

Statements of Changes in Net Assets

    For the
Six Months Ended
June 30, 2007
(unaudited)
  For the Year
Ended
December 31, 2006
 
From Operations  
Net investment income   $ 8,729,163     $ 17,389,007    
Net realized gain (loss) on investments and foreign currency transactions     3,168,629       (4,686,836 )  
Net change in unrealized appreciation (depreciation) of investments and foreign
currency translations
    (2,748,619 )     12,037,635    
Net increase in net assets resulting from operations     9,149,173       24,739,806    
From Dividends  
Dividends from net investment income     (7,486,277 )     (19,958,235 )  
Net decrease in net assets resulting from dividends     (7,486,277 )     (19,958,235 )  
From Capital Share Transactions (Note 6)  
Reinvestment of dividends     39,256          
Net increase in net assets from capital share transactions     39,256          
Net increase in net assets     1,702,152       4,781,571    
Net Assets  
Beginning of period     216,317,824       211,536,253    
End of period   $ 218,019,976     $ 216,317,824    
Distributions in excess of net investment income   $ (1,575,536 )   $ (2,818,422 )  

 

See Accompanying Notes to Financial Statements.
15





Credit Suisse Asset Management Income Fund, Inc.

Financial Highlights

    For the
Six Months
Ended
6/30/07
 
Per share operating performance   (unaudited)  
Net asset value, beginning of period   $ 4.34    
INVESTMENT ACTIVITIES  
Net investment income     0.17    
Net realized and unrealized gain (loss) on investments
and futures contracts
    0.01    
Total from investment activities     0.18    
LESS DIVIDENDS  
Net investment income     (0.15 )  
Return of capital        
Total dividends     (0.15 )  
Net asset value, end of period   $ 4.37    
Per share market value, end of period   $ 4.29    
TOTAL INVESTMENT RETURN  
Net asset value1     4.16 %  
Market value     1.32 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 218,020    
Ratio of expenses to average net assets including
expense offsets
    0.80 %*  
Ratio of expenses to average net assets     0.80 %*  
Ratio of net investment income to average net assets     7.98 %*  
Portfolio turnover rate     25.2 %  

 

†  Calculated using the average share method.

*  Annualized.

1  Total investment return based on per share net asset value reflects the effects of change in net asset value on the performance
of the Fund during each year, and assumes dividends and capital gains distributions, if any, were reinvested. These percentages
are not an indication of the performance of a shareholder's investment in the Fund based on market value, due to differences
between the market price of the stock and the net asset value of the Fund.

2  This amount represents less then $(0.01) per share.

3  As required, effective January 1, 2001 the Fund has adopted provisions of AICPA Audit and Accounting Guide for Investment
Companies and has begun amortizing premium on debt securities. The effect of this change for the year ended December 31, 2001
was a decrease to net investment income per share by $0.004 and an increase to net realized and unrealized gains and losses
per share by $0.004 and a decrease to the net ratio of net investment income to average net assets from 11.73% to 11.66%.
Per share ratios and supplemental data for prior periods have not been restated to reflect this change.

4  Due to the realignment of the Fund's portfolio in connection with the combination with Credit Suisse Strategic Global Income
Fund, Inc., the cost of purchases of $30,040,944 and proceeds from sales of $37,801,151 have been excluded from the Portfolio
Turnover calculation.

Note: Current Year permanent book-tax differences, if any, are not included in the calculation of net investment income per share.

See Accompanying Notes to Financial Statements.
16



    Year Ended  
Per share operating performance   12/31/06   12/31/05   12/31/04   12/31/03   12/31/02   12/31/013   12/31/00   12/31/99   12/31/98   12/31/97  
Net asset value, beginning of period   $ 4.24     $ 4.56     $ 4.41     $ 3.91     $ 4.74     $ 5.70     $ 7.34     $ 7.77     $ 8.44     $ 8.12    
INVESTMENT ACTIVITIES  
Net investment income     0.36       0.36       0.35       0.37       0.42       0.61     0.67       0.75       0.71       0.69    
Net realized and unrealized gain (loss) on investments
and futures contracts
    0.14       (0.28 )     0.22       0.58       (0.55 )     (0.85 )     (1.55 )     (0.46 )     (0.66 )     0.39    
Total from investment activities     0.50       0.08       0.57       0.95       (0.13 )     (0.24 )     (0.88 )     0.29       0.05       1.08    
LESS DIVIDENDS  
Net investment income     (0.40 )     (0.40 )     (0.40 )     (0.43 )     (0.62 )     (0.72 )     (0.76 )     (0.72 )     (0.72 )     (0.76 )  
Return of capital           (0.00 )2     (0.02 )     (0.02 )     (0.08 )                                
Total dividends     (0.40 )     (0.40 )     (0.42 )     (0.45 )     (0.70 )     (0.72 )     (0.76 )     (0.72 )     (0.72 )     (0.76 )  
Net asset value, end of period   $ 4.34     $ 4.24     $ 4.56     $ 4.41     $ 3.91     $ 4.74     $ 5.70     $ 7.34     $ 7.77     $ 8.44    
Per share market value, end of period   $ 4.38     $ 3.67     $ 4.45     $ 4.50     $ 3.88     $ 4.98     $ 5.56     $ 6.06     $ 7.56     $ 8.75    
TOTAL INVESTMENT RETURN  
Net asset value1     12.73 %     1.74 %     13.55 %     24.59 %     (5.26 )%     (6.04 )%     (12.37 )%     4.50 %     0.47 %     14.03 %  
Market value     31.44 %     (9.76 )%     8.60 %     28.11 %     (10.52 )%     1.15 %     3.55 %     (11.32 )%     (5.68 )%     25.90 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 216,318     $ 211,536     $ 227,374     $ 219,864     $ 195,089     $ 236,652     $ 197,817     $ 254,857     $ 269,507     $ 291,959    
Ratio of expenses to average net assets including
expense offsets
    0.74 %     0.82 %     0.78 %     0.78 %     0.79 %     1.07 %     0.78 %     0.78 %     0.81 %     0.84 %  
Ratio of expenses to average net assets     0.74 %     0.82 %     0.78 %     0.78 %     0.79 %     1.07 %     0.78 %     0.78 %     0.81 %     0.84 %  
Ratio of net investment income to average net assets     8.32 %     8.20 %     8.08 %     8.83 %     9.93 %     11.66 %     10.10 %     9.90 %     8.59 %     8.47 %  
Portfolio turnover rate     58.0 %     61.5 %     57.8 %     77.8 %     61.1 %     50.1 %4     39.1 %     43.5 %     84.7 %     97.7 %  

 

See Accompanying Notes to Financial Statements.
17




Credit Suisse Asset Management Income Fund, Inc.

Notes to Financial Statements

June 30, 2007 (unaudited)

Note 1. Organization

Credit Suisse Asset Management Income Fund, Inc. (the "Fund") was incorporated on February 11, 1987 and is registered as a diversified, closed-end investment company under the Investment Company Act of 1940, as amended. The Fund's investment objective is to seek current income through investment primarily in debt securities.

Note 2. Significant Accounting Policies

A) SECURITY VALUATION — The net asset value of the Fund is determined daily as of the close of regular trading on the New York Stock Exchange, Inc. (the "Exchange") on each day the Exchange is open for business. Debt securities with a remaining maturity greater than 60 days are valued in accordance with the price supplied by a pricing service, which may use a matrix, formula or other objective method that takes into consideration market indices, yield curves and other specific adjustments. Debt obligations that will mature in 60 days or less are valued on the basis of amortized cost, which approximates market value, unless it is determined that using this method would not represent fair value. Equity investments are valued at market value, which is generally determined using the closing price on the exchange or market on which the security is primarily traded at the time of valuation ("Valuation Time"). If no sales are reported, equity investments are generally valued at the most recent bid quotation as of the Valuation Time or at the lowest asked quotation in the case of a short sale of securities. Investments in mutual funds are valued at the mutual fund's closing net asset value per share on the day of valuation. Securities and other assets for which market quotations are not readily available, or whose values have been materially affected by events occurring before the Fund's Valuation Time but after the close of the securities' primary markets, are valued at fair value as determined in good faith by, or under the direction of, the Board of Directors under procedures established by the Board of Directors.

The Fund may invest up to 10% of its total assets in securities which are not readily marketable, including those which are restricted as to disposition under securities law ("restricted securities") (excludes 144A securities that have been determined to be liquid under procedures established by the Board of Directors). These securities are valued pursuant to the valuation procedures noted above.

B) SECURITY TRANSACTIONS AND INVESTMENT INCOME — Security transactions are accounted for on a trade date basis. Interest income is accrued as earned. The Fund amortizes premium and accretes discount using the effective yield method. Dividends are recorded on the ex-dividend date. The cost of investments sold is determined by use of the specific identification method for both financial reporting and income tax purposes. Discount or premium on mortgage backed securities is recorded upon receipt of principal payments on the underlying mortgage pools.

C) DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS — Dividends from net investment income are declared and paid monthly. Distributions of net realized capital gains, if any, are declared and paid at least annually. However, to the extent that a net realized capital gain can be reduced by a capital loss carryover, such gain will not be distributed. Income and capital gains distributions are determined in accordance with federal income tax regulations, which may differ from generally accepted accounting principles in the United States of America ("GAAP").

D) FEDERAL INCOME TAXES — No provision is made for federal taxes as it is the Fund's intention to continue to qualify for and elect the tax treatment applicable to regulated investment companies under the Internal Revenue Code of 1986, as amended, and to make the requisite distributions to its shareholders, which will be sufficient to relieve it from federal income and excise taxes.


18



Credit Suisse Asset Management Income Fund, Inc.

Notes to Financial Statements (continued)

June 30, 2007 (unaudited)

E) USE OF ESTIMATES — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from these estimates.

F) SHORT-TERM INVESTMENTS — The Fund sweeps available cash into a short-term time deposit available through Brown Brothers Harriman & Co. ("BBH & Co"), the Fund's custodian. The short-term time deposit is a variable rate account classified as a short-term investment.

G) DELAYED DELIVERY COMMITMENTS — The Fund may purchase or sell securities on a when-issued or forward commitment basis. Payment and delivery may take place a month or more after the date of the transaction. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated.

H) FUTURES CONTRACTS — The Fund may enter into futures contracts to the extent permitted by its investment policies and objectives. Upon entering into a futures contract, the Fund is required to deposit cash or pledge U.S. Government securities as initial margin. Subsequent payments, which are dependent on the daily fluctuations in the value of the underlying instrument, are made or received by the Fund each day (daily variation margin) and are recorded as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Fund records a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transactions and the Fund's basis in the contracts. Risks of entering into futures contracts for hedging purposes include the possibility that a change in the value of the contracts may not correlate with the changes in the value of the underlying instruments. In addition, the purchase of futures contracts involves the risk that the Fund could lose more than the original margin deposit and subsequent payments required for a futures transaction. At June 30, 2007, the Fund had no open futures contracts.

I) FORWARD FOREIGN CURRENCY CONTRACTS — The Fund may enter into forward foreign currency contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of a foreign currency. The Fund will enter into forward foreign currency contracts primarily for hedging purposes. Forward foreign currency contracts are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded for financial statement purposes as unrealized until the contract settlement date, or an offsetting position is entered into. At June 30, 2007, the Fund had the following forward foreign currency contracts.

Forward Foreign
Currency Contract
  Expiration
Date
  Foreign
Currency
To Be Sold
  Contract
Amount
  Contract
Value
  Unrealized
Loss
 
British Pound   9/28/2007   £ 370,000     $ 738,624     $ 741,480     $ (2,856 )  
European Economic Unit   9/28/2007   1,880,000     $ 2,539,354     $ 2,546,723     $ (7,370 )  
            $ 3,277,978     $ 3,288,203     $ (10,226 )  

 

J) SECURITIES LENDING — Loans of securities are required at all times to be secured by collateral at least equal to 102% of the market value of domestic securities on loan (including any accrued interest thereon) and 105% of the market value of foreign securities on loan (including any accrued interest thereon). Cash collateral received by the Fund in connection with securities lending activity may be invested in a variety of investments, including certain Credit Suisse advised funds, funds advised by BBH&Co., the Fund's securities lending agent, or money


19



Credit Suisse Asset Management Income Fund, Inc.

Notes to Financial Statements (continued)

June 30, 2007 (unaudited)

market instruments. However, in the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings.

BBH&Co. has been engaged by the Fund to act as the Fund's securities lending agent. The Fund's securities lending arrangement provides that the Fund and BBH&Co. will share net income earned from the securities lending activities. During the six months ended June 30, 2007, total earnings from the Fund's investment in cash collateral received in connection with securities lending arrangements was $618,204 of which $541,351 was rebated to borrowers (brokers). The Fund retained $61,482 in income from the cash collateral investment and BBH&Co., as lending agent, was paid $15,371. The Fund may also be entitled to certain minimum amounts of income from its securities lending activities. Securities lending income is accrued as earned.

K) OTHER — The Fund may invest in securities of foreign countries and governments which involve certain risks in addition to those inherent in domestic investments. Such risks generally include, among others, currency risks (fluctuations in currency exchange rates), information risk (key information may be inaccurate or unavailable) and political risk (expropriation, nationalization or the imposition of capital or currency controls or punitive taxes). Other risks of investing in foreign securities include liquidity and valuation risks.

The Fund may be subject to taxes imposed by countries in which it invests with respect to its investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The Fund accrues such taxes when the related income is earned or gains are realized.

The Fund's investments in securities of issuers located in less developed countries considered to be "emerging markets" involve risks in addition to those generally applicable to foreign securities. Focusing on emerging (less developed) markets involves higher levels of risk, including increased currency, information, liquidity, market, political and valuation risks. Deficiencies in regulatory oversight, market infrastructure, shareholder protections and company laws could expose the Fund to operational and other risks as well. Some countries may have restrictions that could limit the Fund's access to attractive investment opportunities. Additionally, emerging markets often face serious economic problems (such as high external debt, inflation and unemployment) that could subject the portfolio to increased volatility or substantial declines in value.

Lower-rated debt securities (commonly known as "junk bonds") possess speculative characteristics and are subject to greater market fluctuations and risk of lost income and principal than higher-rated debt securities for a variety of reasons. Also, during an economic downturn or substantial period of rising interest rates, highly leveraged issuers may experience financial stress which would adversely effect their ability to service their principal and interest payment obligations, to meet projected business goals and to obtain additional financing.

In addition, periods of economic uncertainty and changes can be expected to result in increased volatility of market prices of lower-rated debt securities and (to the extent the Fund invests in junk bonds) the Fund's net asset value.

Note 3. Transactions with Affiliates and Related Parties

Credit Suisse serves as investment adviser for the Fund. For its investment advisory services, Credit Suisse is entitled to receive a fee from the Fund at a rate per annum, computed weekly and paid quarterly, as follows: 0.50% of the lower of the weekly stock price (market value) of the Fund's outstanding shares or its average weekly net assets. For the six months ended June 30, 2007, investment advisory fees earned were $541,592.


20



Credit Suisse Asset Management Income Fund, Inc.

Notes to Financial Statements (continued)

June 30, 2007 (unaudited)

Credit Suisse Asset Management Limited ("Credit Suisse U.K."), an affiliate of Credit Suisse, is sub-investment adviser to the Fund. Credit Suisse U.K.'s sub-investment advisory fees are paid by Credit Suisse out of Credit Suisse's net investment advisory fee and are not paid by the Fund.

BBH&Co. provides administrative and custodial services to the Fund. Under the Administration and Custody Agreements, BBH&Co. is paid a fee based on average net assets. For the six months ended June 30, 2007, BBH&Co. earned administrative service fees (including out-of-pocket expenses) of $47,399.

The Independent Directors receive fifty percent (50%) of their annual retainer in the form of shares purchased by the Fund's transfer agent in the open market.

Merrill Corporation ("Merrill"), an affiliate of Credit Suisse, has been engaged by the Fund to provide certain financial printing services. For the six months ended June 30, 2007, Merrill was paid $32,779 for its services to the Fund.

Note 4. Line of Credit

The Fund, together with other funds/portfolios advised by Credit Suisse (collectively, the "Participating Funds"), participates in a $50 million committed, unsecured line of credit facility ("Credit Facility") for temporary or emergency purposes with Deutsche Bank, A.G. as administrative agent and syndication agent and State Street Bank and Trust Company as operations agent. Under the terms of the Credit Facility, the Participating Funds pay an aggregate commitment fee at a rate of 0.10% per annum on the average unused amount of the Credit Facility, which is allocated among the Participating Funds in such manner as is determined by the governing Boards of the Participating Funds. In addition, the Participating Funds pay interest on borrowings at the Federal Funds rate plus 0.50%. At June 30, 2007 and during the six months ended June 30, 2007, the Fund had no borrowings under the Credit Facility.

Note 5. Purchases and Sales of Securities

For the six months ended June 30, 2007, the Fund had no investments in U.S. Government and Agency Obligations. Purchases and sales of investment securities (excluding short-term investments) were $58,205,111 and $54,411,852, respectively.

At June 30, 2007, the identified cost for federal income tax purposes, as well as the gross unrealized appreciation from investments for those securities having an excess of value over cost, gross unrealized depreciation from investments for those securities having an excess of cost over value and the net unrealized depreciation from investments were $240,039,365, $6,761,243, $(9,510,057), and $(2,748,814), respectively.

Note 6. Fund Shares

The Fund has one class of shares of common stock, par value $0.001 per share; one hundred million shares are authorized. Transactions in shares of common stock were as follows:

    For the Six Months Ended
June 30, 2007 (unaudited)
  For the Year Ended
December 31, 2006
 
Shares issued through reinvestment of dividends     28,763          

 


21



Credit Suisse Asset Management Income Fund, Inc.

Notes to Financial Statements (continued)

June 30, 2007 (unaudited)

Note 7. Contingencies

In the normal course of business, the Fund may provide general indemnifications pursuant to certain contracts and organizational documents. The Fund's maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be estimated; however, based on experience, the risk of loss from such claims is considered remote.

Note 8. Recent Accounting Pronouncements

In July 2006, the Financial Accounting Standards Board ("FASB") released FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes ("FIN 48"), an interpretation of FASB Statement No. 109. FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. FIN 48 requires the accounting and disclosure of tax positions taken or expected to be taken in the course of preparing the Fund's tax returns to determine whether the tax positions are "more likely than not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the more likely than not threshold would be recorded as a tax benefit or expense in the current year. Adoption of FIN 48 is effective during the first required financial reporting period for fiscal years beginning after December 15, 2006. Management adopted FIN 48 on June 29, 2007. There was no material impact to the financial statements or disclosures thereto as a result of the adoption of this pronouncement.

On September 20, 2006, the FASB released Statement of Financial Accounting Standards No. 157 "Fair Value Measurements" ("FAS 157"). FAS 157 establishes an authoritative definition of fair value, sets out a framework for measuring fair value, and requires additional disclosures about fair-value measurements. The application of FAS 157 is required for fiscal years, beginning after November 15, 2007 and interim periods within those fiscal years.

At this time, management is evaluating the implication of FAS 157 and its impact on the financial statements has not yet been determined.


22




Credit Suisse Asset Management Income Fund, Inc.

Results of Annual Meeting of Shareholders (unaudited)

On April 26, 2007, the Annual Meeting of Shareholders of the Credit Suisse Asset Management Income Fund, Inc. (the "Fund") was held and the following matter was voted upon:

(1) To re-elect two directors to the Board of Directors of the Fund:

Name of Director   For   Withheld  
Enrique R. Arzac     43,946,120       704,853    
Terry F. Bovarnick     43,919,587       731,386    

 

In addition to the directors elected at the meeting, James J. Cattano, Lawrence J. Fox, Lawrence D. Haber and Steven N. Rappaport continue to serve as Directors of the Fund.

Notice is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940, as amended, that the Credit Suisse Asset Management Income Fund, Inc. may from time to time purchase shares of its capital stock in the open market.


23




Credit Suisse Asset Management Income Fund, Inc.

Privacy Policy Notice (unaudited)

Important Privacy Choices for Consumers

We are committed to maintaining the privacy of every current and prospective customer. We recognize that you entrust important personal information to us, and we wish to assure you that we take seriously our responsibilities in protecting and safeguarding this information.

In connection with making available investment products and services to current and potential customers, we may obtain nonpublic personal information about you. This information may include your name, address, e-mail address, social security number, account number, assets, income, financial situation, transaction history and other personal information.

We may collect nonpublic information about you from the following sources:

•  Information we receive on applications, forms, questionnaires, web sites, agreements or in the course of establishing or maintaining a customer relationship; and

•  Information about your transactions with us, our affiliates, or others.

We do not disclose any nonpublic personal information about our customers or former customers to anyone, except with your consent or as otherwise permitted by law.

In cases where we believe that additional products and services may be of interest to you, we may share the information described above with our affiliates.

We may also disclose this information to firms that perform services on our behalf. These agents and service providers are required to treat the information confidentially and use it only for the purpose for which it is provided.

We restrict access to nonpublic personal information about you to those employees, agents or other parties who need to know that information to provide products or services to you or in connection with your investments with or through us. We maintain physical, electronic and procedural safeguards that comply with federal standards to guard your nonpublic personal information.

Note: This Notice is provided to clients and prospective clients of Credit Suisse Asset Management, LLC, ("Credit Suisse"), and Credit Suisse Asset Management Securities, Inc., and shareholders and prospective shareholders in Credit Suisse-sponsored and advised investment companies, including Credit Suisse Funds, and other consumers and customers, as applicable. This Notice is not intended to be incorporated in any offering materials but is merely a statement of our current Privacy Policy, and may be amended from time to time upon notice to you. This Notice is dated as of May 17, 2007.


24




Credit Suisse Asset Management Income Fund, Inc.

Proxy Voting and Portfolio Holdings Information (unaudited)

Information regarding how the Credit Suisse Asset Management Income Fund, Inc. (the "Fund") voted proxies related to its portfolio securities during the 12-month period ended June 30 of each year, as well as policies and procedures that the Fund uses to determine how to vote proxies relating to its portfolio securities are available:

• By calling 1-800-293-1232

• On the Fund's website, www.credit-suisse.com/us

• On the website of the Securities and Exchange Commission, www.sec.gov

The Fund files a complete schedule of its portfolio holdings for the first and third quarters of its fiscal year with the SEC on Form N-Q. The Fund's Forms N-Q are available on the SEC's website at www.sec.gov and may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information on the operation of the SEC's Public Reference Room may be obtained by calling 1-202-551-8090.


25




Credit Suisse Asset Management Income Fund, Inc.

Other Funds Managed by Credit Suisse Asset Management, LLC

CLOSED-END FUNDS

Single Country
The Chile Fund, Inc. (AMEX: CH)
The First Israel Fund, Inc. (AMEX: ISL)
The Indonesia Fund, Inc. (AMEX: IF)

Multiple Country
The Emerging Markets Telecommunications Fund, Inc. (AMEX: ETF)
The Latin America Equity Fund, Inc. (AMEX: LAQ)

Fixed Income
Credit Suisse Asset Management Income Fund, Inc. (AMEX: CIK)
Credit Suisse High Yield Bond Fund (AMEX: DHY)

Literature Request — Call today for free descriptive information on the closed-end funds listed above at 1-800-293-1232 or visit our website on the Internet: www.credit-suisse.com/us.

OPEN-END FUNDS

Credit Suisse Absolute Return Fund

Credit Suisse Cash Reserve Fund

Credit Suisse Commodity Return Strategy Fund

Credit Suisse Emerging Markets Fund

Credit Suisse Global Fixed Income Fund

Credit Suisse Global Small Cap Fund

Credit Suisse High Income Fund

Credit Suisse International Focus Fund

Credit Suisse Japan Equity Fund

Credit Suisse Large Cap Blend Fund

Credit Suisse Large Cap Growth Fund

Credit Suisse Large Cap Value Fund

Credit Suisse Mid-Cap Core Fund

Credit Suisse Short Duration Bond Fund

Credit Suisse Small Cap Core Fund

Fund shares are not deposits or other obligations of Credit Suisse Asset Management, LLC or any affiliate, are not FDIC-insured and are not guaranteed by Credit Suisse Asset Management, LLC or any affiliate. Fund investments are subject to investment risks, including loss of your investment. There are special risk considerations associated with international, global, emerging-markets, small-company, private equity, high-yield debt, single-industry, single-country and other special, aggressive or concentrated investment strategies. Past performance cannot guarantee future results.

More complete information about a fund, including charges and expenses, is provided in the Prospectus, which should be read carefully before investing. You may obtain copies by calling Credit Suisse Funds at 800-927-2874. Performance information current to the most recent month-end is available at www.credit-suisse.com/us.

Credit Suisse Asset Management Securities, Inc., Distributor.


26



  CIK-SAR-0607

This report, including the financial statements herein, is sent to the shareholders of the Fund for their information. The financial information included herein is taken from the records of the Fund without examination by independent registered public accountants who do not express an opinion thereon. It is not a prospectus, circular or representation intended for use in the purchase or sale of shares of the Fund or of any securities mentioned in this report.




Item 2. Code of Ethics.

This item is inapplicable to a semi-annual report on Form N-CSR.

Item 3. Audit Committee Financial Expert.

This item is inapplicable to a semi-annual report on Form N-CSR.

Item 4. Principal Accountant Fees and Services.

This item is inapplicable to a semi-annual report on Form N-CSR.

Item 5. Audit Committee of Listed Registrants.

This item is inapplicable to a semi-annual report on Form N-CSR.

Item 6. Schedule of Investments.

Included as part of the report to shareholders filed under Item 1 of this Form.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

This item is inapplicable to a semi-annual report on Form N-CSR.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

This item is inapplicable to a semi-annual report on Form N-CSR.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

None.

Item 10. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of directors since the registrant last provided disclosure in response to the requirements of Item 7(d)(2)(ii)(g) of Schedule 14A in its definitive proxy statement dated March 2, 2007.

Item 11. Controls and Procedures.

(a)           As of a date within 90 days from the filing date of this report, the principal executive officer and principal financial officer concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) were effective based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934.

(b)           There were no changes in registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal half-year that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.




Item 12. Exhibits.

(a)(1)       Not applicable.

(a)(2)       The certifications of the registrant as required by Rule 30a-2(a) under the Act are exhibits to this report.

(a)(3)       Not applicable.

(b)           The certifications of the registrant as required by Rule 30a-2(b) under the Act are an exhibit to this report.




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

CREDIT SUISSE ASSET MANAGEMENT INCOME FUND, INC.

 

 

 

/s/Keith M. Schappert

 

 

Name:  Keith M. Schappert

 

Title:   Chief Executive Officer

 

Date:   September 4, 2007

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

/s/Keith M. Schappert

 

 

Name:  Keith M. Schappert

 

Title:   Chief Executive Officer

 

Date:   September 4, 2007

 

/s/Michael A. Pignataro

 

 

Name:  Michael A. Pignataro

 

Title:   Chief Financial Officer

 

Date:   September 4, 2007