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Fitch Expects To Rate Nuveen Insured Dividend Advantage Municipal Fund's MTP Shares 'AAA'.

Publication: Business Wire
Publication Date: 16-OCT-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Fitch Ratings expects to assign an 'AAA' rating to the following securities issued by Nuveen Insured Dividend Advantage Municipal Fund, a municipal closed-end fund managed by Nuveen Asset Management:

--Up to $115,000,000 of MuniFund Term Preferred Shares series 2014, due Nov. 1, 2014.

The rating will be effective on the closing date that is expected to occur on Oct. 19, 2009. The rating is based on sufficient asset coverage provided to the MuniFund Term Preferred Shares (MTP Shares) by the fund's underlying portfolio of assets and the capabilities of Nuveen Asset Management as investment advisor. The fund will use the net proceeds from the sale of MTP Shares to redeem a portion of its outstanding...

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