{"id":402322,"date":"2020-12-17T16:08:37","date_gmt":"2020-12-17T21:08:37","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=402322"},"modified":"2020-12-17T16:08:37","modified_gmt":"2020-12-17T21:08:37","slug":"calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings\/","title":{"rendered":"Calamos Investments Closed-End Funds&#8217; (NASDAQ: CHI, CHY, CSQ, CGO, CHW, and CCD) Mandatory Redeemable Preferred Shares Announce Change in Rating Agency to Kroll Bond Rating Agency from Fitch Ratings"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NAPERVILLE, Ill.<\/span>, <span class=\"xn-chron\">Dec. 17, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0Calamos Investments announced the Calamos Closed-End Funds board of trustees for each of CHI, CHY, CSQ, CGO, CHW and CCD (the &#8220;Trusts&#8221;) has elected to terminate, effective <span class=\"xn-chron\">December 17, 2020<\/span>, the designation of Fitch Ratings, Inc. (Fitch) as the rating agency for\u00a0each series of the Trusts&#8217;\u00a0Mandatory Redeemable Preferred Shares (MRPS)\u00a0and replaced Fitch with Kroll Bond Rating Agency LLC (KBRA), a nationally recognized statistical rating organization (NRSRO). \u00a0KBRA has assigned each series of the outstanding Calamos MRPS a rating of &#8216;AA-&#8216;.<sup>1<\/sup><\/p>\n<p>Fitch recently adopted changes to their closed-end fund rating methodology. These changes, in Calamos Investments&#8217; view, reflect Fitch&#8217;s negative market outlook which is substantially different from the views of the Trusts&#8217; adviser. While Fitch stated that it expects their criteria changes to have a negative impact on 311 closed-end funds, they also noted that &#8220;any potential rating changes are solely the result of the criteria change and that the underlying fundamentals of the closed-end funds have not changed&#8221;.<sup>2<\/sup><\/p>\n<p>For more information regarding Calamos Investments&#8217; closed-end fund offerings, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3017361-1&amp;h=2370765960&amp;u=http%3A%2F%2Fwww.calamos.com%2F&amp;a=www.calamos.com\" rel=\"nofollow noopener noreferrer\">www.calamos.com<\/a>.<\/p>\n<p>\n        <sup>1<\/sup>See <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3017361-1&amp;h=1465654574&amp;u=https%3A%2F%2Fwww.krollbondratings.com%2Fdocuments%2Fpress-release%2F31972%2Fkbra-assigns-ratings-to-mandatory-redeemable-preferred-shares-issued-by-six-calamos-closed-end-funds&amp;a=Press+Release\" rel=\"nofollow noopener noreferrer\">Press Release<\/a>, &#8220;KBRA Assigns Ratings to Mandatory Redeemable Preferred Shares of Six Calamos Closed-End Funds&#8221;<\/p>\n<p>\n        <sup>2<\/sup>\u00a0See <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3017361-1&amp;h=1420690473&amp;u=https%3A%2F%2Fnam12.safelinks.protection.outlook.com%2F%3Furl%3Dhttps%253A%252F%252Fwww.fitchratings.com%252Fresearch%252Ffund-asset-managers%252Ffitch-places-311closed-end-fund-ratings-under-criteria-observation-09-12-2020%26amp%3Bdata%3D04%257C01%257Ctherman%2540Calamos.com%257C5486dbd75f31429c858208d89d3cd80f%257C58f6d2d381bd40d7872f8e17475a8058%257C0%257C0%257C637432231939281639%257CUnknown%257CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%253D%257C1000%26amp%3Bsdata%3DWBGSdpI%252FeOFN2J%252B%252FRd%252Bi6gPs6Ie8pqHN1wvBdB1%252Bl3Q%253D%26amp%3Breserved%3D0&amp;a=Press+Release\" rel=\"nofollow noopener noreferrer\">Press Release<\/a>,\u00a0&#8220;Fitch Places 311 Closed-End Fund Ratings Under Criteria Observation&#8221;<\/p>\n<p>\n        <b>Important Notes about Performance and Risk<br \/><\/b>Past performance is no guarantee of future results. As with other investments, market price will fluctuate with the market and upon sale, your shares may have a market price that is above or below net asset value and may be worth more or less than your original investment. Returns at NAV reflect the deduction of the Fund&#8217;s management fee, debt leverage costs and other expenses. You can purchase or sell common shares daily. Like any other stock, market price will fluctuate with the market. Upon sale, your shares may have a market price that is above or below net asset value and may be worth more or less than your original investment. Shares of closed-end funds frequently trade at a discount which is a market price that is below their net asset value. <\/p>\n<p>\n        <b>About Calamos<\/b><br \/>\n        <br \/>Calamos Investments is a diversified global investment firm offering innovative investment strategies including alternatives, multi-asset, convertible, fixed income, and equity. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the <span class=\"xn-location\">Chicago<\/span> metropolitan area, the firm also has offices in <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">San Francisco<\/span>, <span class=\"xn-location\">Milwaukee<\/span> and the <span class=\"xn-location\">Miami<\/span> area. For more information, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3017361-1&amp;h=2370765960&amp;u=http%3A%2F%2Fwww.calamos.com%2F&amp;a=www.calamos.com\" rel=\"nofollow noopener noreferrer\">www.calamos.com<\/a>.<\/p>\n<p>*Calamos Investments LLC, referred to herein as Calamos Investments<sup>\u00ae<\/sup>, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Investments LLP and Calamos Financial Services LLC.\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CG28466&amp;sd=2020-12-17\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings-301195584.html\">http:\/\/www.prnewswire.com\/news-releases\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings-301195584.html<\/a><\/p>\n<p>SOURCE  Calamos Investments<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CG28466&amp;Transmission_Id=202012171605PR_NEWS_USPR_____CG28466&amp;DateId=20201217\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NAPERVILLE, Ill., Dec. 17, 2020 \/PRNewswire\/ &#8212;\u00a0Calamos Investments announced the Calamos Closed-End Funds board of trustees for each of CHI, CHY, CSQ, CGO, CHW and CCD (the &#8220;Trusts&#8221;) has elected to terminate, effective December 17, 2020, the designation of Fitch Ratings, Inc. (Fitch) as the rating agency for\u00a0each series of the Trusts&#8217;\u00a0Mandatory Redeemable Preferred Shares (MRPS)\u00a0and replaced Fitch with Kroll Bond Rating Agency LLC (KBRA), a nationally recognized statistical rating organization (NRSRO). \u00a0KBRA has assigned each series of the outstanding Calamos MRPS a rating of &#8216;AA-&#8216;.1 Fitch recently adopted changes to their closed-end fund rating methodology. These changes, in Calamos Investments&#8217; view, reflect Fitch&#8217;s negative market outlook which is substantially different from the views of the Trusts&#8217; adviser. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Calamos Investments Closed-End Funds&#8217; (NASDAQ: CHI, CHY, CSQ, CGO, CHW, and CCD) Mandatory Redeemable Preferred Shares Announce Change in Rating Agency to Kroll Bond Rating Agency from Fitch Ratings&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-402322","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Calamos Investments Closed-End Funds&#039; (NASDAQ: CHI, CHY, CSQ, CGO, CHW, and CCD) Mandatory Redeemable Preferred Shares Announce Change in Rating Agency to Kroll Bond Rating Agency from Fitch Ratings - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Calamos Investments Closed-End Funds&#039; (NASDAQ: CHI, CHY, CSQ, CGO, CHW, and CCD) Mandatory Redeemable Preferred Shares Announce Change in Rating Agency to Kroll Bond Rating Agency from Fitch Ratings - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NAPERVILLE, Ill., Dec. 17, 2020 \/PRNewswire\/ &#8212;\u00a0Calamos Investments announced the Calamos Closed-End Funds board of trustees for each of CHI, CHY, CSQ, CGO, CHW and CCD (the &#8220;Trusts&#8221;) has elected to terminate, effective December 17, 2020, the designation of Fitch Ratings, Inc. (Fitch) as the rating agency for\u00a0each series of the Trusts&#8217;\u00a0Mandatory Redeemable Preferred Shares (MRPS)\u00a0and replaced Fitch with Kroll Bond Rating Agency LLC (KBRA), a nationally recognized statistical rating organization (NRSRO). \u00a0KBRA has assigned each series of the outstanding Calamos MRPS a rating of &#8216;AA-&#8216;.1 Fitch recently adopted changes to their closed-end fund rating methodology. These changes, in Calamos Investments&#8217; view, reflect Fitch&#8217;s negative market outlook which is substantially different from the views of the Trusts&#8217; adviser. &hellip; Continue reading &quot;Calamos Investments Closed-End Funds&#8217; (NASDAQ: CHI, CHY, CSQ, CGO, CHW, and CCD) Mandatory Redeemable Preferred Shares Announce Change in Rating Agency to Kroll Bond Rating Agency from Fitch Ratings&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-17T21:08:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CG28466&amp;sd=2020-12-17\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Calamos Investments Closed-End Funds&#8217; 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(Fitch) as the rating agency for\u00a0each series of the Trusts&#8217;\u00a0Mandatory Redeemable Preferred Shares (MRPS)\u00a0and replaced Fitch with Kroll Bond Rating Agency LLC (KBRA), a nationally recognized statistical rating organization (NRSRO). \u00a0KBRA has assigned each series of the outstanding Calamos MRPS a rating of &#8216;AA-&#8216;.1 Fitch recently adopted changes to their closed-end fund rating methodology. These changes, in Calamos Investments&#8217; view, reflect Fitch&#8217;s negative market outlook which is substantially different from the views of the Trusts&#8217; adviser. &hellip; Continue reading \"Calamos Investments Closed-End Funds&#8217; (NASDAQ: CHI, CHY, CSQ, CGO, CHW, and CCD) Mandatory Redeemable Preferred Shares Announce Change in Rating Agency to Kroll Bond Rating Agency from Fitch Ratings\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-17T21:08:37+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CG28466&amp;sd=2020-12-17","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/calamos-investments-closed-end-funds-nasdaq-chi-chy-csq-cgo-chw-and-ccd-mandatory-redeemable-preferred-shares-announce-change-in-rating-agency-to-kroll-bond-rating-agency-from-fitch-ratings\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Calamos Investments Closed-End Funds&#8217; 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