KBRA Assigns and Affirms Ratings for Mandatory Redeemable Preferred Shares Issued by Calamos Global Dynamic Income Fund

KBRA Assigns and Affirms Ratings for Mandatory Redeemable Preferred Shares Issued by Calamos Global Dynamic Income Fund

KBRA assigns a ‘AA-’ rating to $28.5 million Series H Mandatory Redeemable Preferred Shares ("MRPS") issued by Calamos Global Dynamic Income Fund (the “Fund” or "CHW"). Concurrently, KBRA affirms the ratings assigned to the outstanding Series C and E MRPS issued by the Fund. The Outlook on all ratings is Stable.

The rating action reflects the stable composition of the Fund’s portfolio, which is primarily invested in global equities and convertible securities, with notable exposures to Information Technology, Financials, and Industrial sectors. Whilst total leverage asset coverage levels have varied in recent years due to market volatility, CHW has maintained asset coverage ratios well in excess of the Investment Company Act of 1940 (the “'40 Act”) requirements. The Fund’s history of maintaining asset coverage levels that consistently exceed the ’40 Act regulatory thresholds, and the relative stable performance of the portfolio supports the affirmation of the rating.

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Rating Sensitivities