-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BQaMkahszm0rFXhqBZhgm7mnWdNzsKqyEYpVMWlZ3cYByRp4sTkyZOQ/Q9rVZoBZ FrTamGrAHj389n79yO2NHg== 0001193805-08-001189.txt : 20080429 0001193805-08-001189.hdr.sgml : 20080429 20080429110918 ACCESSION NUMBER: 0001193805-08-001189 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080229 FILED AS OF DATE: 20080429 DATE AS OF CHANGE: 20080429 EFFECTIVENESS DATE: 20080429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MUNIASSETS FUND, INC. CENTRAL INDEX KEY: 0000901243 IRS NUMBER: 223239638 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-07642 FILM NUMBER: 08783631 BUSINESS ADDRESS: STREET 1: 800 SCUDDERS MILL RD CITY: PLAINSBORO STATE: NJ ZIP: 08536 BUSINESS PHONE: 6092822800 MAIL ADDRESS: STREET 1: 800 SCUDDERS MILL RD CITY: PLAINSBORO STATE: NJ ZIP: 08536 FORMER COMPANY: FORMER CONFORMED NAME: MUNIASSETS FUND INC DATE OF NAME CHANGE: 19930714 FORMER COMPANY: FORMER CONFORMED NAME: MUNIINCOME FUND INC DATE OF NAME CHANGE: 19930517 N-Q 1 e603744_nq-muniassets.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-07642 Name of Fund: BlackRock MuniAssets Fund, Inc. (MUA) Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock MuniAssets Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ 08536. Mailing address: P.O. Box 9011, Princeton, NJ 08543-9011 Registrant's telephone number, including area code: (800) 882-0052, Option 4 Date of fiscal year end: 05/31/2008 Date of reporting period: 12/01/2007 - 02/29/2008 Item 1 - Schedule of Investments BlackRock MuniAssets Fund, Inc. Schedule of Investments as of February 29, 2008 (Unaudited) (Percentages shown are based on Net Assets)
Par State (000) Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- Alabama - 0.6% $1,820 Tuscaloosa, Alabama, Special Care Facilities Financing Authority, Residential Care Facility Revenue Bonds (Capstone Village, Inc. Project), Series A, 5.875% due 8/01/2036 $ 1,563,416 - ----------------------------------------------------------------------------------------------------------------------------------- Alaska - 0.4% 1,015 Alaska Industrial Development and Export Authority Revenue Bonds (Williams Lynxs Alaska Cargoport), AMT, 7.80% due 5/01/2014 1,041,979 - ----------------------------------------------------------------------------------------------------------------------------------- Arizona - 8.5% 3,000 Coconino County, Arizona, Pollution Control Corporation Revenue Refunding Bonds (Tucson Electric Power - Navajo), AMT, Series A, 7.125% due 10/01/2032 3,030,330 2,500 Coconino County, Arizona, Pollution Control Corporation Revenue Refunding Bonds (Tucson Electric Power - Navajo), Series B, 7% due 10/01/2032 2,520,625 1,625 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools Project 1), Series A, 6.625% due 7/01/2020 1,445,161 1,615 Maricopa County, Arizona, IDA, M/F Housing Revenue Bonds (Sun King Apartments Project), Series A, 6.75% due 5/01/2031 1,549,205 4,800 Phoenix, Arizona, IDA, Airport Facility, Revenue Refunding Bonds (America West Airlines Inc. Project), AMT, 6.30% due 4/01/2023 4,312,416 1,390 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools Project), Series E, 7.25% due 7/01/2031 1,419,760 500 Pima County, Arizona, IDA, Education Revenue Refunding Bonds (Arizona Charter Schools Project), Series O, 5.25% due 7/01/2031 409,415 415 Pima County, Arizona, IDA, Education Revenue Refunding Bonds (Arizona Charter Schools Project II), Series A, 6.75% due 7/01/2011 (a) 459,476 675 Pima County, Arizona, IDA, Education Revenue Refunding Bonds (Arizona Charter Schools Project II), Series A, 6.75% due 7/01/2031 675,716 2,840 Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, 5% due 12/01/2032 2,361,318 3,975 Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, 5% due 12/01/2037 3,225,037 1,000 Show Low, Arizona, Improvement District Number 5, Special Assessment Bonds, 6.375% due 1/01/2015 1,010,870 ------------ 22,419,329 - ----------------------------------------------------------------------------------------------------------------------------------- California - 2.5% 1,900 California State, Various Purpose, GO, 5.25% due 11/01/2025 1,880,449 1,300 California State, Various Purpose, GO, 5.50% due 11/01/2033 1,303,029 1,320 Fontana, California, Special Tax, Refunding (Community Facilities District Number 22 - Sierra), 6% due 9/01/2034 1,182,205
Portfolio Abbreviations To simplify the listings of BlackRock MuniAssets Fund, Inc.'s portfolio holdings in the Schedule of Investments, we have abbreviated the names of many of the securities according to the list below. AMT Alternative Minimum Tax (subject to) EDA Economic Development Authority EDR Economic Development Revenue Bonds GO General Obligation Bonds HDA Housing Development Authority HFA Housing Finance Agency IDA Industrial Development Authority IDR Industrial Development Revenue Bonds M/F Multi-Family PCR Pollution Control Revenue Bonds VRDN Variable Rate Demand Notes BlackRock MuniAssets Fund, Inc. Schedule of Investments as of February 29, 2008 (Unaudited) (Percentages shown are based on Net Assets)
Par State (000) Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- $2,585 Southern California Public Power Authority, Natural Gas Project Number 1 Revenue Bonds, Series A, 5% due 11/01/2029 $ 2,296,514 ------------ 6,662,197 - ----------------------------------------------------------------------------------------------------------------------------------- Colorado - 5.1% 650 Colorado Health Facilities Authority, Revenue Refunding Bonds (Christian Living Communities Project), Series A, 5.75% due 1/01/2026 567,872 1,805 Denver, Colorado, City and County Airport Revenue Bonds, AMT, Series D, 7.75% due 11/15/2013 (b) 2,002,648 1,430 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee), Series A, 7.10% due 9/01/2014 1,494,278 2,095 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee), Series A, 7.30% due 9/01/2022 2,115,321 275 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee), Series B, 7.45% due 9/01/2031 276,620 1,760 North Range Metropolitan District Number 1, Colorado, GO, 7.25% due 12/15/2011 (a) 1,986,371 2,850 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds (Public Improvement Fees), 8% due 12/01/2025 2,937,723 525 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds (Public Improvement Fees), 8.125% due 12/01/2025 494,907 1,170 Southlands Metropolitan District Number 1, Colorado, GO, 7.125% due 12/01/2014 (a) 1,397,085 ------------ 13,272,825 - ----------------------------------------------------------------------------------------------------------------------------------- Connecticut - 2.4% 680 Connecticut State Development Authority, Airport Facility Revenue Bonds (Learjet Inc. Project), AMT, 7.95% due 4/01/2026 723,806 3,490 Connecticut State Development Authority, IDR (AFCO Cargo BDL-LLC Project), AMT, 8% due 4/01/2030 3,581,438 2,250 Connecticut State, HFA, Housing Mortgage Finance Program Revenue Bonds, AMT, Sub-Series A-2, 5.15% due 5/15/2038 2,027,722 ------------ 6,332,966 - ----------------------------------------------------------------------------------------------------------------------------------- Florida - 10.6% 1,130 Capital Projects Finance Authority, Florida, Continuing Care Retirement Revenue Bonds (Glenridge on Palmer Ranch), Series A, 8% due 6/01/2012 (a) 1,345,514 1,180 Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Bonds (JetBlue Airways Corp.), AMT, 6.375% due 11/15/2026 1,049,634 1,160 Halifax Hospital Medical Center, Florida, Hospital Revenue Refunding Bonds, Series A, 5% due 6/01/2038 955,828 490 Harbor Bay, Florida, Community Development District, Capital Improvement Special Assessment Revenue Bonds, Series A, 7% due 5/01/2033 497,340 1,195 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Adventist Health System), Series C, 5.25% due 11/15/2036 1,101,957 2,000 Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds (National Gypsum Company), AMT, Series A, 7.125% due 4/01/2030 2,009,280 4,300 Hillsborough County, Florida, IDA, Hospital Revenue Bonds (Tampa General Hospital Project), 5% due 10/01/2036 3,699,677
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of February 29, 2008 (Unaudited) (Percentages shown are based on Net Assets)
Par State (000) Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- $1,000 Jacksonville, Florida, Economic Development Commission, Health Care Facilities, Revenue Refunding Bonds (Florida Proton Therapy Institute), Series A, 6% due 9/01/2017 $ 957,450 1,300 Jacksonville, Florida, Economic Development Commission, IDR (Gerdau Ameristeel US, Inc.), AMT, 5.30% due 5/01/2037 1,025,245 2,620 Lee County, Florida, IDA, IDR (Lee Charter Foundation), Series A, 5.375% due 6/15/2037 2,023,662 3,255 Midtown Miami, Florida, Community Development District, Special Assessment Revenue Bonds, Series A, 6.25% due 5/01/2037 2,948,997 2,295 Orlando, Florida, Urban Community Development District, Capital Improvement Special Assessment Bonds, Series A, 6.95% due 5/01/2011 (a) 2,531,385 3,040 Santa Rosa Bay Bridge Authority, Florida, Revenue Bonds, 6.25% due 7/01/2028 2,706,451 860 Sarasota County, Florida, Health Facilities Authority, Retirement Facility Revenue Refunding Bonds (Village on the Isle Project), 5.50% due 1/01/2027 744,605 795 Sarasota County, Florida, Health Facilities Authority, Retirement Facility Revenue Refunding Bonds (Village on the Isle Project), 5.50% due 1/01/2032 659,993 2,680 Tolomato Community Development District, Florida, Special Assessment Bonds, 6.65% due 5/01/2040 2,495,964 900 Waterchase, Florida, Community Development District, Capital Improvement Revenue Bonds, Series A, 6.70% due 5/01/2011 (a) 985,950 ------------ 27,738,932 - ----------------------------------------------------------------------------------------------------------------------------------- Georgia - 3.2% 3,000 Atlanta, Georgia, Tax Allocation Bonds (Atlantic Station Project), 7.90% due 12/01/2011 (a) 3,517,650 740 Atlanta, Georgia, Tax Allocation Bonds (Princeton Lakes Project), 5.50% due 1/01/2031 636,045 1,165 Brunswick and Glynn County, Georgia, Development Authority, First Mortgage Revenue Bonds (Coastal Community Retirement Corporation Project), Series A, 7.125% due 1/01/2025 (c)(d) 803,850 1,690 Brunswick and Glynn County, Georgia, Development Authority, First Mortgage Revenue Bonds (Coastal Community Retirement Corporation Project), Series A, 7.25% due 1/01/2035 (c)(d) 1,166,100 2,435 Rockdale County, Georgia, Development Authority Revenue Bonds (Visy Paper Project), AMT, Series A, 6.125% due 1/01/2034 2,200,510 ------------ 8,324,155 - ----------------------------------------------------------------------------------------------------------------------------------- Idaho - 0.4% 1,000 Idaho Health Facilities Authority, Revenue Refunding Bonds (Valley Vista Care Corporation), Series A, 7.75% due 11/15/2016 1,094,310 - ----------------------------------------------------------------------------------------------------------------------------------- Illinois - 5.6% 4,140 Chicago, Illinois, O'Hare International Airport, Special Facility Revenue Refunding Bonds (American Airlines Inc. Project), 5.50% due 12/01/2030 3,097,424 2,950 Illinois State Finance Authority Revenue Bonds (Clare At Water Tower Project), Series A, 6.125% due 5/15/2038 2,605,293 600 Illinois State Finance Authority Revenue Bonds (Landing At Plymouth Place Project), Series A, 6% due 5/15/2037 525,030
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of February 29, 2008 (Unaudited) (Percentages shown are based on Net Assets)
Par State (000) Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- $ 820 Illinois State Finance Authority Revenue Bonds (Monarch Landing, Inc. Project), Series A, 7% due 12/01/2037 $ 788,241 685 Illinois State Finance Authority Revenue Bonds (Primary Health Care Centers Program), 6.60% due 7/01/2024 636,139 2,850 Illinois State Finance Authority, Revenue Refunding Bonds (Advocate Health and Hospital Corporation), VRDN, Series B-3, 7.19% due 11/01/2038 (b)(e) 2,850,000 1,070 Lincolnshire, Illinois, Special Service Area Number 1, Special Tax Bonds (Sedgebrook Project), 6.25% due 3/01/2034 1,003,596 2,600 Lombard, Illinois, Public Facilities Corporation, First Tier Revenue Bonds (Conference Center and Hotel), Series A-1, 7.125% due 1/01/2036 2,547,584 825 Village of Wheeling, Illinois, Revenue Bonds (North Milwaukee/Lake- Cook Tax Increment Financing (TIF) Redevelopment Project), 6% due 1/01/2025 738,053 ------------ 14,791,360 - ----------------------------------------------------------------------------------------------------------------------------------- Indiana - 1.8% 2,830 Indiana Health and Educational Facilities Financing Authority, Hospital Revenue Bonds (Community Foundation of Northwest Indiana), 5.50% due 3/01/2037 2,398,057 1,200 Vanderburgh County, Indiana, Redevelopment Commission, Redevelopment District Tax Allocation Bonds, 5.25% due 2/01/2031 1,054,776 615 Vigo County, Indiana, Hospital Authority Revenue Bonds (Union Hospital, Inc.), 5.70% due 9/01/2037 525,764 765 Vigo County, Indiana, Hospital Authority Revenue Bonds (Union Hospital, Inc.), 5.75% due 9/01/2042 652,843 ------------ 4,631,440 - ----------------------------------------------------------------------------------------------------------------------------------- Iowa - 1.0% 2,180 Iowa Finance Authority, Health Care Facilities, Revenue Refunding Bonds (Care Initiatives Project), 9.25% due 7/01/2011 (a) 2,615,564 - ----------------------------------------------------------------------------------------------------------------------------------- Kansas - 0.6% 1,770 Wyandotte County, Kansas, Kansas City Unified Government Revenue Refunding Bonds (General Motors Corporation Project), 6% due 6/01/2025 1,547,600 - ----------------------------------------------------------------------------------------------------------------------------------- Kentucky - 1.0% 2,850 Kenton County, Kentucky, Airport Board, Special Facilities Revenue Bonds (Mesaba Aviation Inc. Project), AMT, Series A, 6.70% due 7/01/2029 2,698,437 - ----------------------------------------------------------------------------------------------------------------------------------- Louisiana - 1.8% 3,000 Louisiana Local Government Environmental Facilities and Community Development Authority Revenue Bonds (Westlake Chemical Corporation), 6.75% due 11/01/2032 2,913,810 1,870 Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan Missionaries of Our Lady Health System, Inc.), Series A, 5.25% due 8/15/2036 1,705,702 ------------ 4,619,512 - ----------------------------------------------------------------------------------------------------------------------------------- Maryland - 1.8% 1,815 Maryland State Economic Development Corporation Revenue Refunding Bonds (Baltimore Association for Retarded Citizens-Health and Mental Hygiene Program), Series A, 7.75% due 3/01/2025 1,910,015 1,500 Maryland State Energy Financing Administration, Limited Obligation Revenue Bonds (Cogeneration-AES Warrior Run), AMT, 7.40% due 9/01/2021 1,414,770 1,250 Maryland State Health and Higher Educational Facilities Authority Revenue Bonds (King Farm Presbyterian Community), Series A, 5.30% due 1/01/2039 976,350
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of February 29, 2008 (Unaudited) (Percentages shown are based on Net Assets)
Par State (000) Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- $ 590 Maryland State Health and Higher Educational Facilities Authority Revenue Bonds (Washington Christian Academy), 5.50% due 7/01/2038 $ 462,749 ------------ 4,763,884 - ----------------------------------------------------------------------------------------------------------------------------------- Massachusetts - 1.1% 1,150 Massachusetts State Health and Educational Facilities Authority Revenue Bonds (Jordan Hospital), Series E, 6.75% due 10/01/2033 1,164,812 1,945 Massachusetts State Health and Educational Facilities Authority, Revenue Refunding Bonds (Bay Cove Human Services Issue), Series A, 5.90% due 4/01/2028 1,800,642 ------------ 2,965,454 - ----------------------------------------------------------------------------------------------------------------------------------- Michigan - 2.1% 2,700 Eastern Michigan University, Revenue Refunding Bonds, VRDN, Series A, 8.50% due 6/01/2036 (e)(f) 2,700,000 1,635 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds (Mount Clemens General Hospital), Series B, 5.875% due 11/15/2034 1,476,143 1,740 Monroe County, Michigan, Hospital Financing Authority, Hospital Revenue Refunding Bonds (Mercy Memorial Hospital Corporation), 5.50% due 6/01/2035 1,447,871 ------------ 5,624,014 - ----------------------------------------------------------------------------------------------------------------------------------- Missouri - 0.8% 920 Fenton, Missouri, Tax Increment Revenue Refunding and Improvement Bonds (Gravois Bluffs), 7% due 10/01/2011 (a) 1,040,456 1,000 Kansas City, Missouri, IDA, First Mortgage Health Facilities Revenue Bonds (Bishop Spencer Place), Series A, 6.50% due 1/01/2035 942,020 ------------ 1,982,476 - ----------------------------------------------------------------------------------------------------------------------------------- Nevada - 0.2% 640 Clark County, Nevada, Improvement District Number 142, Special Assessment Bonds, 6.375% due 8/01/2023 581,030 - ----------------------------------------------------------------------------------------------------------------------------------- New Hampshire - 0.4% 1,165 New Hampshire Health and Education Facilities Authority, Hospital Revenue Bonds (Catholic Medical Center), 5% due 7/01/2036 973,975 - ----------------------------------------------------------------------------------------------------------------------------------- New Jersey - 13.0% 9,000 Camden County, New Jersey, Pollution Control Financing Authority, Solid Waste Resource Recovery, Revenue Refunding Bonds, AMT, Series A, 7.50% due 12/01/2010 9,026,730 345 Camden County, New Jersey, Pollution Control Financing Authority, Solid Waste Resource Recovery, Revenue Refunding Bonds, AMT, Series B, 7.50% due 12/01/2009 345,997 3,065 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 2,861,484 2,500 New Jersey EDA, IDR, Refunding (Newark Airport Marriott Hotel), 7% due 10/01/2014 2,521,875 1,665 New Jersey EDA, Retirement Community Revenue Bonds (Cedar Crest Village Inc. Facility), Series A, 7.25% due 11/15/2011 (a) 1,904,444 5,800 New Jersey EDA, Retirement Community Revenue Bonds (Seabrook Village Inc.), Series A, 8.125% due 11/15/2010 (a) 6,615,016 2,000 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project), AMT, 6.25% due 9/15/2019 1,833,580 3,330 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project), AMT, 6.25% due 9/15/2029 2,922,774 1,250 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project), AMT, 9% due 6/01/2033 (h) 1,348,138
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of February 29, 2008 (Unaudited) (Percentages shown are based on Net Assets)
Par State (000) Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- $2,000 New Jersey Health Care Facilities Financing Authority Revenue Bonds (Pascack Valley Hospital Association), 6.625% due 7/01/2036 $ 1,079,000 3,450 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue Bonds, Series C, 5.05% due 12/15/2035 (b)(d) 667,127 1,425 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue Bonds, 7% due 6/01/2013 (a) 1,661,094 1,845 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue Refunding Bonds, Series 1A, 5% due 6/01/2041 1,469,782 ------------ 34,257,041 - ----------------------------------------------------------------------------------------------------------------------------------- New Mexico - 1.0% 2,500 Farmington, New Mexico, PCR, Refunding (Tucson Electric Power Company - San Juan Project), Series A, 6.95% due 10/01/2020 2,516,775 - ----------------------------------------------------------------------------------------------------------------------------------- New York - 3.7% 1,400 Dutchess County, New York, IDA, Civic Facility Revenue Refunding Bonds (Saint Francis Hospital), Series A, 7.50% due 3/01/2029 1,463,560 510 New York City, New York, City IDA, Civic Facility Revenue Bonds, Series C, 6.80% due 6/01/2028 524,637 1,515 New York City, New York, City IDA, Civic Facility Revenue Bonds (Special Needs Facilities Pooled Program), Series C-1, 6.625% due 7/01/2029 1,411,995 2,400 New York City, New York, City IDA, Special Facility Revenue Bonds (British Airways Plc Project), AMT, 7.625% due 12/01/2032 2,442,456 870 New York Liberty Development Corporation Revenue Bonds (National Sports Museum Project), Series A, 6.125% due 2/15/2019 824,847 1,470 New York State Dormitory Authority, Non-State Supported Debt, Revenue Refunding Bonds (Mount Sinai-NYU Medical Center Health System), Series C, 5.50% due 7/01/2026 1,439,968 1,575 Westchester County, New York, IDA, Continuing Care Retirement, Mortgage Revenue Bonds (Kendal on Hudson Project), Series A, 6.50% due 1/01/2013 (a) 1,764,205 ------------ 9,871,668 - ----------------------------------------------------------------------------------------------------------------------------------- North Carolina - 0.7% 1,500 North Carolina Medical Care Commission, Retirement Facilities, First Mortgage Revenue Bonds (Givens Estates Project), Series A, 6.50% due 7/01/2013 (a) 1,729,785 - ----------------------------------------------------------------------------------------------------------------------------------- Ohio - 0.7% 1,915 Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Bonds, Series A-2, 6.50% due 6/01/2047 1,885,356 - ----------------------------------------------------------------------------------------------------------------------------------- Pennsylvania - 7.6% 3,015 Allegheny County, Pennsylvania, Hospital Development Authority, Health System Revenue Refunding Bonds (West Penn Allegheny Health System), Series A, 5.375% due 11/15/2040 2,453,758 200 Bucks County, Pennsylvania, IDA, Retirement Community Revenue Bonds (Ann's Choice Inc.), Series A, 6.125% due 1/01/2025 190,700 1,550 Bucks County, Pennsylvania, IDA, Retirement Community Revenue Bonds (Ann's Choice Inc.), Series A, 6.25% due 1/01/2035 1,465,308 900 Harrisburg, Pennsylvania, Authority, University Revenue Bonds (Harrisburg University of Science), Series B, 6% due 9/01/2036 791,505 685 Lancaster County, Pennsylvania, Hospital Authority Revenue Bonds (Brethren Village Project), Series A, 6.25% due 7/01/2026 647,140
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of February 29, 2008 (Unaudited) (Percentages shown are based on Net Assets)
Par State (000) Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- $ 590 Lancaster County, Pennsylvania, Hospital Authority Revenue Bonds (Brethren Village Project), Series A, 6.50% due 7/01/2040 $ 551,626 2,330 Montgomery County, Pennsylvania, IDA, Revenue Bonds (Whitemarsh Continuing Care Project), 6.125% due 2/01/2028 2,151,242 3,250 Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds (National Gypsum Company), AMT, Series A, 6.25% due 11/01/2027 3,020,778 2,270 Philadelphia, Pennsylvania, Authority for IDR (Air Cargo), AMT, Series A, 7.50% due 1/01/2025 2,311,405 6,440 Philadelphia, Pennsylvania, Authority for IDR, Commercial Development, 7.75% due 12/01/2017 6,445,345 ------------ 20,028,807 - ----------------------------------------------------------------------------------------------------------------------------------- Rhode Island - 1.0% 2,495 Central Falls, Rhode Island, Detention Facility Corporation, Detention Facility, Revenue Refunding Bonds, 7.25% due 7/15/2035 2,531,926 - ----------------------------------------------------------------------------------------------------------------------------------- South Carolina - 1.5% 1,500 Connector 2000 Association, Inc., South Carolina, Toll Road and Capital Appreciation Revenue Bonds, Senior-Series B, 6.50% due 1/01/2009 (d) 1,406,175 1,485 Connector 2000 Association, Inc., South Carolina, Toll Road and Capital Appreciation Revenue Bonds, Senior-Series B, 7.969% due 1/01/2014 (d) 818,814 1,500 South Carolina Jobs, EDA, EDR (Westminster Presbyterian Center), 7.75% due 11/15/2010 (a) 1,710,705 ------------ 3,935,694 - ----------------------------------------------------------------------------------------------------------------------------------- Tennessee - 1.3% 6,785 Knox County, Tennessee, Health, Educational and Housing Facilities Board, Hospital Facilities Revenue Refunding Bonds (Covenant Health), Series A, 5.06% due 1/01/2040 (d) 855,724 355 Shelby County, Tennessee, Health, Educational and Housing Facilities Board Revenue Bonds (Germantown Village), 6.25% due 12/01/2034 285,175 2,500 Shelby County, Tennessee, Health, Educational and Housing Facilities Board Revenue Bonds (Germantown Village), Series A, 7.25% due 12/01/2034 2,335,200 ------------ 3,476,099 - ----------------------------------------------------------------------------------------------------------------------------------- Texas - 4.1% 1,000 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.), First Tier, Series A, 6.70% due 1/01/2011 (a) 1,091,360 2,550 Brazos River Authority, Texas, PCR, Refunding (TXU Energy Company LLC Project), AMT, Series A, 7.70% due 4/01/2033 2,555,839 1,680 Brazos River Authority, Texas, Revenue Refunding Bonds (Reliant Energy Inc. Project), Series B, 7.75% due 12/01/2018 1,715,095 1,400 Houston, Texas, Health Facilities Development Corporation, Retirement Facility Revenue Bonds (Buckingham Senior Living Community), Series A, 7.125% due 2/15/2014 (a) 1,667,694 500 Kerrville, Texas, Health Facilities Development Corporation, Hospital Revenue Bonds (Sid Peterson Memorial Hospital Project), 5.375% due 8/15/2035 427,820 3,190 Matagorda County, Texas, Navigation District Number 1, Revenue Refunding Bonds (Reliant Energy Inc.), Series C, 8% due 5/01/2029 3,257,500 ------------ 10,715,308 - -----------------------------------------------------------------------------------------------------------------------------------
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of February 29, 2008 (Unaudited) (Percentages shown are based on Net Assets)
Par State (000) Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- Utah - 0.6% $1,660 Carbon County, Utah, Solid Waste Disposal, Revenue Refunding Bonds (Laidlaw Environmental), AMT, Series A, 7.45% due 7/01/2017 $ 1,670,425 - ----------------------------------------------------------------------------------------------------------------------------------- Virginia - 5.7% 1,455 Dulles Town Center, Virginia, Community Development Authority, Special Assessment Tax (Dulles Town Center Project), 6.25% due 3/01/2026 1,381,275 750 Fairfax County, Virginia, EDA, Residential Care Facilities, Mortgage Revenue Refunding Bonds (Goodwin House, Inc.), 5.125% due 10/01/2037 635,040 450 Fairfax County, Virginia, EDA, Residential Care Facilities, Mortgage Revenue Refunding Bonds (Goodwin House, Inc.), 5.125% due 10/01/2042 374,234 440 Farms of New Kent Community Development Authority, Virginia, Special Assessment Bonds, Series C, 5.80% due 3/01/2036 347,010 540 Lexington, Virginia, IDA, Residential Care Facility, Mortgage Revenue Refunding Bonds (Kendal at Lexington), Series A, 5.375% due 1/01/2028 466,560 38,400 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds, Capital Appreciation, Senior Series B, 5.95% due 8/15/2008 (a)(d) 10,053,120 2,180 Tobacco Settlement Financing Corporation of Virginia, Revenue Refunding Bonds, Senior Series B-1, 5% due 6/01/2047 1,717,557 ------------ 14,974,796 - ----------------------------------------------------------------------------------------------------------------------------------- Washington - 0.6% 1,750 Washington State Housing Financing Commission, Nonprofit Revenue Bonds (Skyline at First Hill Project), Series A, 5.625% due 1/01/2038 1,446,428 - ----------------------------------------------------------------------------------------------------------------------------------- Wisconsin - 0.7% 1,855 Wisconsin State Health and Educational Facilities Authority Revenue Bonds (New Castle Place Project), Series A, 7% due 12/01/2031 1,850,455 - ----------------------------------------------------------------------------------------------------------------------------------- U.S. 3,000 Virgin Islands Government Refinery Facilities, Revenue Refunding Virgin Islands - 1.1% Bonds (Hovensa Coker Project), AMT, 6.50% due 7/01/2021 3,023,130 - ----------------------------------------------------------------------------------------------------------------------------------- Total Municipal Bonds (Cost - $256,643,359) - 95.2% 250,158,548 - ----------------------------------------------------------------------------------------------------------------------------------- Municipal Bonds Transferred to Tender Option Bond Trusts (i) - ----------------------------------------------------------------------------------------------------------------------------------- California - 1.5% 4,290 San Jose, California, Airport Revenue Refunding Bonds, Series A, 5.50% due 3/01/2032 (b) 4,092,317 - ----------------------------------------------------------------------------------------------------------------------------------- Virginia - 3.2% 8,690 Virginia State, HDA, Commonwealth Mortgage Revenue Bonds, Series H, Sub-Series H-1, 5.375% due 7/01/2036 (g) 8,365,429 - ----------------------------------------------------------------------------------------------------------------------------------- Total Municipal Bonds Transferred to Tender Option Bond Trusts (Cost - $13,271,124) - 4.7% 12,457,746 - ----------------------------------------------------------------------------------------------------------------------------------- Shares (000) Short-Term Securities - ----------------------------------------------------------------------------------------------------------------------------------- 3,500 Merrill Lynch Institutional Tax-Exempt Fund, 3.03% (j)(k) 3,500,000 - ----------------------------------------------------------------------------------------------------------------------------------- Total Short-Term Securities (Cost - $3,500,000) - 1.3% 3,500,000 - ----------------------------------------------------------------------------------------------------------------------------------- Total Investments (Cost - $273,414,483*) - 101.2% 266,116,294 Other Assets Less Liabilities - 1.3% 3,331,642 Liability for Trust Certificates, Including Interest Expense Payable - (2.5%) (6,543,833) ------------ Net Assets - 100.0% $262,904,103 ============
* The cost and unrealized appreciation (depreciation) of investments as of February 29, 2008, as computed for federal income tax purposes, were as follows: Aggregate cost $ 267,087,756 ============= Gross unrealized appreciation $ 8,982,474 Gross unrealized depreciation (16,443,936) ------------- Net unrealized depreciation $ (7,461,462) ============= BlackRock MuniAssets Fund, Inc. Schedule of Investments as of February 29, 2008 (Unaudited) (a) Prerefunded. (b) AMBAC Insured. (c) Non-income producing security; issuer filed for bankruptcy or is in default of interest payments. (d) Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase. (e) Variable rate security. Rate shown is interest rate as of the report date. (f) XL Capital Insured. (g) MBIA Insured. (h) Represents a pay-in-kind security which may pay interest/dividends in additional face/shares. (i) Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund may have acquired the residual interest certificates. These securities serve as collateral in a financing transaction. (j) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows: -------------------------------------------------------------------------- Net Activity Dividend Affiliate (000) Income -------------------------------------------------------------------------- Merrill Lynch Institutional Tax-Exempt Fund (5,910) $75,656 -------------------------------------------------------------------------- (k) Represents the current yield as of February 29, 2008. Item 2 - Controls and Procedures 2(a) - The registrant's principal executive and principal financial officers or persons performing similar functions have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act")) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended. 2(b) - There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3 - Exhibits Certifications - Attached hereto 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. BlackRock MuniAssets Fund, Inc. By: /s/ Donald C. Burke -------------------------------- Donald C. Burke Chief Executive Officer of BlackRock MuniAssets Fund, Inc. Date: April 23, 2008 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. By: /s/ Donald C. Burke -------------------------------- Donald C. Burke Chief Executive Officer (principal executive officer) of BlackRock MuniAssets Fund, Inc. Date: April 23, 2008 By: /s/ Neal J. Andrews -------------------------------- Neal J. Andrews Chief Financial Officer (principal financial officer) of BlackRock MuniAssets Fund, Inc. Date: April 23, 2008 EX-99.CERT 2 e603744_ex99-cert.txt EX-99. CERT CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - -------------------------------------------------------------------------------- I, Donald C. Burke, Chief Executive Officer (principal executive officer) of BlackRock MuniAssets Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock MuniAssets Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: April 23, 2008 /s/ Donald C. Burke - ---------------------- Donald C. Burke Chief Executive Officer (principal executive officer) of BlackRock MuniAssets Fund, Inc. EX-99. CERT CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - -------------------------------------------------------------------------------- I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock MuniAssets Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock MuniAssets Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: April 23, 2008 /s/ Neal J. Andrews - ------------------------- Neal J. Andrews Chief Financial Officer (principal financial officer) of BlackRock MuniAssets Fund, Inc. -----END PRIVACY-ENHANCED MESSAGE-----