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Fitch Rates Nuveen Insured Dividend Advantage Municipal Fund's MTP Shares 'AAA'.

Publication: Business Wire
Publication Date: 23-OCT-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Fitch Ratings has assigned 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:

--$108,000,000 of MuniFund Term Preferred Shares (MTP shares) series 2014, due Nov. 1, 2014.

The closing date occurred on Oct. 19, 2009. The rating is based on sufficient asset coverage provided to the 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 Municipal Auction Rate Cumulative Preferred Shares (MuniPreferred) while maintaining the fund's leveraged capital...

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