Regulatory Filings • Sep 28, 2009
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UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION Washington,D.C.20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21566 Name of Fund: BlackRock Floating Rate Income Trust (BGT) Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock Floating Rate Income Trust, 40 East 52 nd Street, New York, NY 10022. Registrants telephone number, including area code: (800) 882-0052, Option 4 Date of fiscal year end: 10/31/2009 Date of reporting period: 07/31/2009 Item 1 Schedule of Investments
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| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Corporate Bonds | (000) | Value | |
| Air Freight & Logistics - 0.0% | Park-Ohio Industries, Inc., 8.38%, 11/15/14 | USD | 125 | $ 63,750 |
| Auto Components - 0.0% | The Goodyear Tire & Rubber Co., 5.01%, 12/01/09 (a) | 60 | 59,775 | |
| Lear Corp., 8.75%, 12/01/16 (b)(c) | 30 | 13,425 | ||
| 73,200 | ||||
| Building Products - 0.0% | CPG International I, Inc., 10.50%, 7/01/13 | 90 | 63,900 | |
| Capital Markets - 0.5% | E*Trade Financial Corp., 12.50%, 11/30/17 (d)(e) | 577 | 566,903 | |
| Marsico Parent Co., LLC, 10.63%, 1/15/16 (e) | 1,501 | 615,410 | ||
| Marsico Parent Holdco, LLC, 12.50%, 7/15/16 (d)(e) | 626 | 137,696 | ||
| Marsico Parent Superholdco, LLC, 14.50%, | ||||
| 1/15/18 (d)(e) | 430 | 103,155 | ||
| 1,423,164 | ||||
| Chemicals - 0.4% | American Pacific Corp., 9.00%, 2/01/15 | 125 | 111,875 | |
| Ames True Temper, Inc., 4.51%, 1/15/12 (a) | 1,100 | 962,500 | ||
| 1,074,375 | ||||
| Commercial Banks - 4.3% | SNS Bank NV Series EMTN, 2.88%, 1/30/12 | EUR | 8,500 | 12,312,915 |
| Commercial Services & | DI Finance Series B, 9.50%, 2/15/13 | USD | 307 | 307,768 |
| Supplies - 0.1% | ||||
| Containers & Packaging - 0.1% | Berry Plastics Holding Corp., 4.50%, 9/15/14 (a) | 300 | 210,000 | |
| Impress Holdings BV, 3.63%, 9/15/13 (a)(e) | 150 | 133,500 | ||
| 343,500 | ||||
| Diversified Financial Services - 0.1% | FCE Bank Plc, 7.13%, 1/16/12 | EUR | 200 | 255,127 |
| Diversified Telecommunication | Cincinnati Bell, Inc., 7.25%, 7/15/13 | USD | 290 | 281,662 |
| Services - 1.1% | PAETEC Holding Corp., 8.88%, 6/30/17 (e) | 700 | 665,000 | |
| Qwest Corp., 3.88%, 6/15/13 (a) | 2,500 | 2,350,000 | ||
| 3,296,662 | ||||
| Electronic Equipment, Instruments & | Sanmina-SCI Corp., 8.13%, 3/01/16 | 540 | 477,900 | |
| Components - 0.2% | ||||
| Energy Equipment & Services - 0.0% | Compagnie Generale de Geophysique-Veritas, 7.50%, | |||
| 5/15/15 | 70 | 67,200 | ||
| Compagnie Generale de Geophysique-Veritas, 7.75%, | ||||
| 5/15/17 | 50 | 47,875 | ||
| 115,075 | ||||
| Food & Staples Retailing - 0.1% | Duane Reade, Inc., 11.80%, 8/01/15 (e) | 240 | 233,801 | |
| Food Products - 0.3% | Smithfield Foods, Inc., 10.00%, 7/15/14 (e) | 700 | 729,750 | |
| Health Care Equipment & Supplies - 0.3% | DJO Finance LLC, 10.88%, 11/15/14 | 815 | 770,175 | |
| Health Care Providers & Services - 0.0% | Tenet Healthcare Corp., 9.00%, 5/01/15 (e) | 95 | 100,225 | |
| Tenet Healthcare Corp., 10.00%, 5/01/18 (e) | 35 | 38,675 | ||
| 138,900 | ||||
| Hotels, Restaurants & Leisure - 0.0% | American Real Estate Partners LP, 7.13%, 2/15/13 | 140 | 129,850 | |
| Greektown Holdings, LLC, 10.80%, 12/01/13 (b)(c)(e) | 122 | 18,300 | ||
| 148,150 | ||||
| Household Durables - 0.0% | Berkline/BenchCraft LLC, 4.50%, 11/03/12 (b)(c)(d) | 400 | - | |
| IT Services - 0.2% | SunGard Data Systems, Inc., 4.88%, 1/15/14 | 763 | 692,423 | |
| Independent Power Producers & | AES Ironwood LLC, 8.88%, 11/30/25 | 83 | 73,005 | |
| Energy Traders - 0.9% | Calpine Construction Finance Co., LP, 8.00%, 6/01/16 (e) | 2,580 | 2,592,900 | |
| 2,665,905 | ||||
| Machinery - 0.2% | Sunstate Equipment Co. LLC, 10.50%, 4/01/13 (e) | 210 | 149,100 | |
| Synventive Molding Solutions Sub-Series A, 14.00%, | ||||
| 1/14/11 | 960 | 383,851 | ||
| 532,951 |
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| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Corporate Bonds | (000) | Value | |
| Media - 1.2% | Affinion Group, Inc., 10.13%, 10/15/13 | USD | 50 | $ 49,500 |
| CSC Holdings, Inc., 8.50%, 4/15/14 (e) | 550 | 566,500 | ||
| Charter Communications Holdings II, LLC, 10.30%, | ||||
| 9/15/10 (b)(c) | 260 | 278,200 | ||
| Charter Communications Holdings II, LLC Series B, | ||||
| 10.30%, 9/15/10 (b)(c) | 45 | 47,925 | ||
| Charter Communications, Inc., 6.50%, | ||||
| 10/01/27 (b)(c)(f) | 580 | 229,100 | ||
| Charter Communications Operating, LLC, 8.00%, | ||||
| 4/30/12 (e) | 210 | 209,475 | ||
| EchoStar DBS Corp., 6.38%, 10/01/11 | 135 | 133,988 | ||
| EchoStar DBS Corp., 7.00%, 10/01/13 | 158 | 156,025 | ||
| EchoStar DBS Corp., 7.13%, 2/01/16 | 230 | 223,100 | ||
| Local Insight Regatta Holdings, Inc., 11.00%, 12/01/17 | 977 | 273,560 | ||
| Nielsen Finance LLC, 10.00%, 8/01/14 | 400 | 402,000 | ||
| Rainbow National Services LLC, 8.75%, | ||||
| 9/01/12 (e) | 750 | 757,500 | ||
| 3,326,873 | ||||
| Metals & Mining - 0.2% | Foundation PA Coal Co., 7.25%, 8/01/14 | 505 | 505,000 | |
| Freeport-McMoRan Copper & Gold, Inc., 5.00%, | ||||
| 4/01/15 (a) | 200 | 192,372 | ||
| 697,372 | ||||
| Oil, Gas & Consumable Fuels - 9.2% | Morgan Stanley Bank AG for OAO Gazprom, 9.63%, | |||
| 3/01/13 | 11,530 | 12,406,280 | ||
| Pemex Project Funding Master Trust, 2.31%, | ||||
| 10/15/09 (a)(g) | 12,700 | 12,731,750 | ||
| SandRidge Energy, Inc., 4.22%, 4/01/14 (a) | 1,400 | 1,152,298 | ||
| Whiting Petroleum Corp., 7.25%, 5/01/13 | 300 | 300,000 | ||
| 26,590,328 | ||||
| Paper & Forest Products - 0.5% | Ainsworth Lumber Co. Ltd., 11.00%, 7/29/15 (d)(e) | 482 | 196,391 | |
| NewPage Corp., 6.73%, 5/01/12 (a) | 1,500 | 630,000 | ||
| Verso Paper Holdings LLC Series B, 4.23%, | ||||
| 8/01/14 (a) | 1,215 | 583,200 | ||
| 1,409,591 | ||||
| Pharmaceuticals - 0.5% | Angiotech Pharmaceuticals, Inc., 4.42%, 12/01/13 (a) | 1,750 | 1,391,250 | |
| Real Estate Investment Trusts | Rouse Co. LP, 5.38%, 11/26/13 (b)(c) | 6,445 | 4,704,850 | |
| (REITs) - 1.6% | ||||
| Specialty Retail - 0.2% | General Nutrition Centers, Inc., 6.40%, | |||
| 3/15/14 (a) | 500 | 445,000 | ||
| Lazydays RV Center, Inc., 11.80%, 5/15/12 (b)(c) | 375 | 3,750 | ||
| Michaels Stores, Inc., 10.00%, 11/01/14 | 10 | 9,400 | ||
| 458,150 | ||||
| Tobacco - 0.7% | Reynolds American, Inc., 7.63%, 6/01/16 | 2,000 | 2,077,096 | |
| Wireless Telecommunication | Cricket Communications, Inc., 7.75%, | |||
| Services - 1.4% | 5/15/16 (e) | 3,000 | 2,985,000 | |
| iPCS, Inc., 2.61%, 5/01/13 (a) | 1,155 | 964,425 | ||
| 3,949,425 | ||||
| Total Corporate Bonds - 24.3% | 70,324,326 |
2
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| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| Aerospace & Defense - 0.9% | Avio SpA Dollar Mezzanine Term Loan, 4.25% - 8.54%, | |||
| 12/13/16 | USD | 1,061 | $ 396,314 | |
| Hawker Beechcraft Acquisition Co. LLC Letter of | ||||
| Credit Facility Deposit, 0.40% - 2.10%, 3/26/14 | 163 | 109,922 | ||
| Hawker Beechcraft Acquisition Co. LLC Term Loan, | ||||
| 2.29% - 2.60%, 3/26/14 | 2,754 | 1,860,895 | ||
| IAP Worldwide Services, Inc. Term Loan (First-Lien), | ||||
| 2.00% - 7.25%, 12/30/12 | 230 | 161,383 | ||
| 2,528,514 | ||||
| Airlines - 0.3% | US Airways Group, Inc. Loan, 2.79%, 3/21/14 | 1,460 | 722,700 | |
| Auto Components - 3.0% | Allison Transmission, Inc. Term Loan, 3.03%, 8/07/14 | 5,793 | 4,989,593 | |
| Dana Holding Corp. Term Advance, 7.25%, | ||||
| 1/31/15 | 2,206 | 1,637,902 | ||
| Dayco Products LLC - (Mark IV Industries, Inc.) | ||||
| 2nd Lien Term Loan, 8.50%, 5/01/10 | 101 | 90,725 | ||
| Dayco Products LLC - (Mark IV Industries, Inc.) | ||||
| First Lien Term Loan, 0.00%, 5/01/10 | 20 | - | ||
| Dayco Products LLC - (Mark IV Industries, Inc.) | ||||
| Replacement Term B Loan, 8.75%, 6/21/11 (b)(c) | 853 | 230,403 | ||
| Delphi Corp. Initial Tranche Term Loan C, 0.00%, | ||||
| 12/31/09 (b)(c) | 2,723 | 1,271,733 | ||
| Delphi Corp. Subsequent Tranche Term Loan C, 0.00%, | ||||
| 12/31/09 (b)(c) | 277 | 129,516 | ||
| GPX International Tire Corp. Term Loan, 12.00%, 4/11/12 | 11 | 3,220 | ||
| GPX International Tire Corp. Tranche B Term Loan, | ||||
| 10.30%, 3/30/12 (b)(c) | 639 | 191,557 | ||
| 8,544,649 | ||||
| Automobiles - 0.5% | Ford Motor Co. Term Loan, 3.28% - 3.51%, 12/15/13 | 1,850 | 1,568,389 | |
| Beverages - 0.2% | Culligan International Co. Loan (Second Lien), 5.28%, | |||
| 4/24/13 | EUR | 1,000 | 332,568 | |
| Le-Nature's, Inc. Tranche B Term Loan, 10.25%, | ||||
| 3/01/11 (b)(c) | USD | 1,000 | 166,667 | |
| 499,235 | ||||
| Building Products - 1.6% | Building Materials Corp. of America Term Loan | |||
| Advance, 3.06%, 2/22/14 | 2,686 | 2,402,589 | ||
| Custom Building Products, Inc. Loan (Second Lien), | ||||
| 10.75%, 4/20/12 | 1,500 | 1,252,500 | ||
| Momentive Performance Materials (Blitz 06-103 GmbH) | ||||
| Tranche B-1 Term Loan, 2.56%, 12/04/13 | 1,221 | 955,154 | ||
| United Subcontractors First Lien Term Loan, 2.10%, | ||||
| 6/30/15 | 179 | 152,180 | ||
| 4,762,423 | ||||
| Capital Markets - 0.4% | Marsico Parent Co., LLC Term Loan, 4.81%, | |||
| 12/15/14 | 462 | 198,749 | ||
| Nuveen Investments, Inc. Term Loan, 3.49% - 3.50%, | ||||
| 11/13/14 | 1,199 | 972,832 | ||
| 1,171,581 | ||||
| Chemicals - 8.3% | Ashland, Inc. Term Loan B, 7.65%, 5/13/14 | 1,525 | 1,549,988 | |
| Brenntag AG Second Lien Term Loan, 3.21%, 1/20/14 | EUR | 443 | 597,822 |
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| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| Brenntag Holding GmbH & Co. KG Acquisition Facility | ||||
| 1, 2.27% - 2.99%, 1/20/14 | USD | 384 | $ 362,690 | |
| Brenntag Holding GmbH & Co. KG Facility 3B (Second | ||||
| Lien), 4.27%, 7/17/15 | 1,000 | 793,333 | ||
| Brenntag Holding GmbH & Co. KG Facility B2, 2.27%, | ||||
| 1/20/14 | 1,572 | 1,485,441 | ||
| Brenntag Holdings GmbH & Co. KG Facility B6A and | ||||
| B6B, 3.60%, 11/24/37 | EUR | 500 | 674,978 | |
| Cognis GmbH Facility A, 3.27%, 11/17/13 | 803 | 965,538 | ||
| Cognis GmbH Facility B (French), 3.27%, 11/16/13 | 197 | 236,458 | ||
| ElectricInvest Holding Co. Ltd. (Viridian Group Plc) | ||||
| Junior Term Facility, 5.08%, 4/20/12 | 1,787 | 1,599,793 | ||
| ElectricInvest Holding Co. Ltd. (Viridian Group Plc) | ||||
| Junior Term Facility, 5.09%, 12/21/12 | GBP | 1,800 | 1,882,266 | |
| Huish Detergents Inc. Loan (Second Lien), 4.53%, | ||||
| 10/26/14 | USD | 750 | 697,500 | |
| Huish Detergents Inc. Tranche B Term Loan, 2.04%, | ||||
| 4/26/14 | 1,729 | 1,622,571 | ||
| Ineos US Finance LLC Term A4 Facility, 2.00% - 7.00%, | ||||
| 12/14/12 | 1,236 | 962,611 | ||
| Ineos US Finance LLC Term B2 Facility, 2.00% - 7.50%, | ||||
| 12/16/13 | 631 | 483,525 | ||
| Ineos US Finance LLC Term C2 Facility, 2.00% - 8.00%, | ||||
| 12/16/14 | 631 | 483,525 | ||
| Matrix Acquisition Corp. (MacDermid, Inc.) Tranche C | ||||
| Term Loan, 2.75%, 12/15/13 | EUR | 1,622 | 1,560,392 | |
| Nalco Co. Term Loan B, 6.50%, 5/06/16 | USD | 1,900 | 1,919,000 | |
| PQ Corp. (fka Niagara Acquisition, Inc.) Loan (Second | ||||
| Lien), 6.79%, 7/30/15 | 2,250 | 900,000 | ||
| PQ Corp. (fka Niagara Acquisition, Inc.) Term Loan | ||||
| (First Lien), 3.54% - 3.75%, 7/31/14 | 2,723 | 2,105,399 | ||
| Rockwood Specialties Group, Inc. Term Loan H, 6.00%, | ||||
| 5/15/14 | 1,229 | 1,240,004 | ||
| Solutia Inc. Loan, 7.25%, 2/28/14 | 1,980 | 1,928,753 | ||
| 24,051,587 | ||||
| Commercial Services & Supplies - 2.8% | ARAMARK Corp. Facility Letter of Credit, 0.22% - | |||
| 2.03%, 1/26/14 | 155 | 146,688 | ||
| ARAMARK Corp. U.S. Term Loan, 2.47%, 1/26/14 | 2,437 | 2,308,968 | ||
| Casella Waste Systems Term Loan B, 7.00%, 12/21/12 | 1,100 | 1,086,250 | ||
| EnviroSolutions Real Property Holdings, Inc. Initial | ||||
| Term Loan, 10.50%, 7/07/12 | 2,022 | 1,445,975 | ||
| John Maneely Co. Term Loan, 3.52% - 3.76%, | ||||
| 12/09/13 | 1,384 | 1,066,985 | ||
| SIRVA Worldwide, Inc. Loan (Second Lien), 12.00%, | ||||
| 5/12/15 | 129 | 9,706 | ||
| Synagro Technologies, Inc. Term Loan (First Lien), | ||||
| 2.27% - 2.29%, 4/02/14 | 1,976 | 1,570,966 |
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| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| West Corp. Term B-2 Loan, 2.65% - 2.66%, 10/24/13 | USD | 437 | $ 413,137 | |
| 8,048,675 | ||||
| Computers & Peripherals - 0.6% | Intergraph Corp. Initial Term Loan (First Lien), 2.66%, | |||
| 5/29/14 | 1,169 | 1,104,413 | ||
| Intergraph Corp. Second Lien Term Loan, | ||||
| 6.29% - 6.66%, 11/28/14 | 750 | 682,500 | ||
| 1,786,913 | ||||
| Construction & Engineering - 0.7% | Airport Development and Investment Limited (BAA) | |||
| Facility (Second Lien), 5.05%, 4/07/11 | GBP | 566 | 516,048 | |
| Brand Energy & Infrastructure Services, Inc. (FR Brand | ||||
| Acquisition Corp.) First Lien Term Loan B, | ||||
| 2.31% - 2.63%, 2/07/14 | USD | 501 | 460,798 | |
| Brand Energy & Infrastructure Services, Inc. (FR Brand | ||||
| Acquisition Corp.) Second Lien Term Loan, | ||||
| 6.31% - 6.69%, 2/07/15 | 1,000 | 655,000 | ||
| Brand Energy & Infrastructure Services, Inc. (FR Brand | ||||
| Acquisition Corp.) Synthetic Letter of Credit Term | ||||
| Loan (First Lien), 0.63% - 2.13%, 2/07/14 | 500 | 460,000 | ||
| 2,091,846 | ||||
| Construction Materials - 0.4% | Headwaters Inc. Term Loan B1 (First Lien), 9.75%, | |||
| 4/30/11 | 1,234 | 1,166,484 | ||
| Containers & Packaging - 4.0% | Atlantis Plastic Films, Inc. Term Loan (Second Lien), | |||
| 15.00%, 3/22/12 (b)(c) | 500 | - | ||
| Graham Packaging Co., LP New Term Loan, 2.56%, | ||||
| 10/07/11 | 233 | 223,462 | ||
| Graham Packaging Co., LP Term Loan C, 6.75%, | ||||
| 4/27/14 | 830 | 825,840 | ||
| Graphic Packaging International, Inc. Incremental | ||||
| Term Loan, 3.08% - 3.35%, 5/16/14 | 2,712 | 2,606,223 | ||
| Modelo 3 S.a.r.l. (Mivisa) Tranche B2 Term Facility, | ||||
| 3.70%, 6/03/15 | EUR | 968 | 1,257,544 | |
| OI European Group B.V. Tranche D Term Loan, 2.02%, | ||||
| 6/14/13 | 1,915 | 2,545,200 | ||
| Pregis Corp. Term Loan B2 (Euro), 3.00%, | ||||
| 9/30/12 | 471 | 537,471 | ||
| Smurfit Kappa Acquisitions (JSG) C1 Term Loan | ||||
| Facility, 4.13% - 4.89%, 7/16/15 | 724 | 977,363 | ||
| Smurfit Kappa Acquisitions (JSG) Term B1, 3.88% - | ||||
| 4.73%, 7/16/14 | 728 | 982,920 | ||
| Smurfit-Stone Container Canada, Inc. Tranche C, | ||||
| 2.57%, 11/01/11 | USD | 26 | 24,423 | |
| Smurfit-Stone Container Canada, Inc. Tranche C-1 | ||||
| Term Loan, 2.57%, 11/01/11 | 8 | 7,384 | ||
| Smurfit-Stone Container Debtor in Possession Term | ||||
| Loan, 10.00%, 7/28/10 | 1,296 | 1,308,625 | ||
| Smurfit-Stone Container Enterprises, Inc. Deposit | ||||
| Funded Facility, 4.50%, 11/01/10 | 12 | 11,510 | ||
| Smurfit-Stone Container Enterprises, Inc. Tranche B, | ||||
| 2.57%, 11/01/11 | 14 | 12,912 |
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| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| Smurfit-Stone Container Revolving Credit, | ||||
| 0.10% - 4.50%, 11/01/09 | USD | 60 $ | 56,699 | |
| Smurfit-Stone Container Revolving Credit, 0.20% - | ||||
| 2.82%, 11/01/10 | 20 | 18,802 | ||
| 11,396,378 | ||||
| Distributors - 0.3% | Keystone Automotive Operations, Inc. Loan, | |||
| 3.77% - 5.75%, 1/12/12 | 1,656 | 745,015 | ||
| Diversified Consumer Services - 1.2% | Coinmach Corp. Term Loan, 3.28% - 3.43%, | |||
| 11/14/14 | 2,545 | 2,004,282 | ||
| Coinmach Laundry Corp. Delay Draw Term Loan, 3.28% | ||||
| - 3.43%, 11/14/14 | 499 | 423,935 | ||
| Education Management Corp. Term Loan C, 2.38%, | ||||
| 6/01/13 | 1,200 | 1,145,148 | ||
| 3,573,365 | ||||
| Diversified Financial Services - 0.1% | Professional Service Industries, Inc. Term Loan (First | |||
| Lien), 3.04%, 10/31/12 | 620 | 310,223 | ||
| Diversified Media - 0.8% | Nielsen Co. Term Loan B, 4.03%, 5/01/16, | 2,459 | 2,226,706 | |
| Diversified Telecommunication | BCM Ireland Holdings Limited (Eircom) Facility B, | |||
| Services - 5.1% | 2.42%, 8/14/14 | EUR | 1,970 | 2,371,418 |
| BCM Ireland Holdings Limited (Eircom) Facility C, | ||||
| 2.67%, 8/14/13 | 1,970 | 2,371,683 | ||
| BCM Ireland Holdings Limited (Eircom) Facility D, | ||||
| 4.79%, 2/14/16 | 1,000 | 1,000,081 | ||
| Cavtel Holdings, LLC Term Loan, 8.50%, 12/31/12 | USD | 374 | 216,639 | |
| Hawaiian Telcom Communications, Inc. Tranche C | ||||
| Term Loan, 4.75%, 5/30/14 | 1,213 | 738,458 | ||
| Integra Telecom Holdings, Inc. Term Loan (First Lien), | ||||
| 10.50%, 8/31/13 | 500 | 477,500 | ||
| Nordic Telephone Co. Holdings APS Euro Facility B2, | ||||
| 2.04%, 4/06/14 | EUR | 885 | 1,211,510 | |
| Nordic Telephone Co. Holdings APS Euro Facility C2, | ||||
| 2.67%, 4/06/15 | 1,058 | 1,447,519 | ||
| PAETEC Communications Term Loan, 2.79%, 2/28/13 | USD | 132 | 124,170 | |
| PAETEC Holding Corp. Replacement Term Loan, 2.79%, | ||||
| 2/28/13 | 311 | 292,543 | ||
| Time Warner Telecom Holdings Inc. Term Loan B Loan, | ||||
| 2.04%, 1/07/13 | 622 | 598,052 | ||
| Wind Telecomunicazioni SpA A1 Term Loan Facility, | ||||
| 3.02% - 3.08%, 9/22/12 | EUR | 848 | 1,146,258 | |
| Wind Telecomunicazioni SpA B1 Term Loan Facility, | ||||
| 3.83%, 9/22/13 | 1,000 | 1,350,069 | ||
| Wind Telecomunicazioni SpA C1 Term Loan Facility, | ||||
| 4.83%, 9/22/14 | 1,000 | 1,350,069 | ||
| 14,695,969 | ||||
| Electric Utilities - 0.3% | Astoria Generating Co. Acquisitions, LLC Term B | |||
| Facility, 2.03% - 2.10%, 2/23/13 | USD | 407 | 384,276 | |
| TPF Generation Holdings, LLC First Lien Term Loan, | ||||
| 2.29%, 12/15/13 | 429 | 403,344 |
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| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| TPF Generation Holdings, LLC Synthetic Letter of | ||||
| Credit Deposit (First Lien), 0.50% - 2.10%, 12/15/13 | USD | 151 | $ 141,671 | |
| TPF Generation Holdings, LLC Synthetic Revolving | ||||
| Deposit, 0.50% - 2.10%, 12/15/11 | 47 | 44,411 | ||
| 973,702 | ||||
| Electrical Equipment - 0.4% | Electrical Components International Holdings Co. (ECI) | |||
| Term Loan (Second Lien), 11.50%, 5/01/14 | 500 | 25,000 | ||
| Generac Acquisition Corp. First Lien Term Loan, | ||||
| 2.78%, 11/10/13 | 1,464 | 1,134,561 | ||
| 1,159,561 | ||||
| Electronic Equipment, Instruments & | Flextronics International Ltd. A Closing Date Loan, | |||
| Components - 1.2% | 2.53% - 2.85%, 10/01/14 | 2,673 | 2,308,877 | |
| Flextronics International Ltd. Delay Draw Term Loan, | ||||
| 2.76%, 10/01/12 | 768 | 663,470 | ||
| Matinvest 2 SAS (Deutsche Connector) Second Lien | ||||
| Facility, 4.97%, 12/22/15 | 500 | 50,000 | ||
| Safenet, Inc. Loan (Second Lien), 6.27%, 4/12/15 | 500 | 412,500 | ||
| Tinnerman Palnut Engineered Products, LLC Second | ||||
| Lien Term Loan, 13.00%, 11/01/11 | 2,407 | 18,051 | ||
| 3,452,898 | ||||
| Energy Equipment & Services - 0.8% | Dresser, Inc. Term Loan (Second Lien), 6.02%, 5/04/15 | 1,500 | 1,143,750 | |
| MEG Energy Corp. Initial Term Loan, 2.60%, 4/03/13 | 484 | 439,003 | ||
| Trinidad USA Partnership LLP US Term Loan, 2.78%, | ||||
| 5/01/11 | 1,022 | 869,741 | ||
| 2,452,494 | ||||
| Food & Staples Retailing - 2.8% | AB Acquisitions UK Topco 2 Ltd. Facility B2 UK | |||
| Borrower, 3.54%, 7/09/15 | GBP | 2,500 | 3,589,732 | |
| Birds Eye Iglo Group Ltd. (Liberator Midco Ltd.) Sterling | ||||
| Tranche Loan (Mezzanine), 4.00% - 4.59%, 11/02/15 | 407 | 568,970 | ||
| DS Waters of America, Inc. Term Loan, 4.27%, | ||||
| 10/29/12 | USD | 1,000 | 816,667 | |
| McJunkin Corp. Term Loan, 3.54%, 1/31/14 | 499 | 473,162 | ||
| Rite Aid Corp. Term Loan, 9.50%, 6/04/15 | 1,000 | 1,020,000 | ||
| Roundy's Supermarkets, Inc. Tranche B Term Loan, | ||||
| 3.03% - 3.04%, 11/03/11 | 503 | 487,315 | ||
| Wm. Bolthouse Farms, Inc. Second Lien Term Loan, | ||||
| 5.79%, 12/16/13 | 250 | 214,375 | ||
| Wm. Bolthouse Farms, Inc. Term Loan (First Lien), | ||||
| 2.56%, 12/16/12 | 872 | 845,822 | ||
| 8,016,043 | ||||
| Food Products - 2.9% | Dole Food Co., Inc. Credit-Linked Deposit, | |||
| 0.51% - 6.86%, 4/12/13 | 192 | 193,085 | ||
| Dole Food Co., Inc. Tranche B Term Loan, 8.00%, | ||||
| 4/12/13 | 336 | 338,105 | ||
| FSB Holdings, Inc. (Fresh Start Bakeries) Term Loan | ||||
| (Second Lien), 6.06%, 3/29/14 | 500 | 385,000 | ||
| Solvest, Ltd. (Dole) Tranche C Term Loan, 8.00%, | ||||
| 4/12/13 | 1,253 | 1,259,773 |
7
$$/page=
| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| United Biscuits Holdco Ltd. Facility B1, 3.09% - 3.65%, | ||||
| 1/23/15 | GBP | 1,651 | $ 2,466,230 | |
| United Biscuits Holdco Ltd. Facility B2, 3.68%, | ||||
| 12/14/14 | EUR | 535 | 693,368 | |
| Wm. Wrigley Jr. Co. Tranche B Term Loan, 6.50%, | ||||
| 10/06/14 | USD | 2,962 | 2,993,189 | |
| 8,328,750 | ||||
| Health Care Equipment & | Bausch & Lomb Inc. Delayed Draw Term Loan, | |||
| Supplies - 1.9% | 2.00% - 3.85%, 4/24/15 | 98 | 93,231 | |
| Bausch & Lomb Inc. Parent Term Loan, 3.85%, | ||||
| 4/24/15 | 388 | 367,330 | ||
| Biomet, Inc. Term Loan, 3.50% - 4.21%, 3/25/15 | EUR | 2,528 | 3,410,156 | |
| DJO Finance LLC (ReAble Therapeutics Fin LLC) Term | ||||
| Loan, 3.29% - 3.60%, 5/20/14 | USD | 1,489 | 1,381,977 | |
| Hologic, Inc. Tranche B Term Loan, 3.56%, 3/31/13 | 380 | 363,886 | ||
| 5,616,580 | ||||
| Health Care Providers & | CCS Medical Debtor in Possession Term Loan, | 31 | 30,309 | |
| Services - 5.1% | 11.00%, 11/14/09 | |||
| CCS Medical, Inc. (Chronic Care) Term Loan (First | ||||
| Lien), 4.35%, 9/30/12 (b)(c) | 675 | 311,344 | ||
| CHS/Community Health Systems, Inc. Delayed Draw | ||||
| Term Loan, 2.54% - 2.92%, 7/25/14 | 229 | 214,891 | ||
| CHS/Community Health Systems, Inc. Funded Term | ||||
| Loan, 2.54%, 7/25/14 | 4,491 | 4,212,280 | ||
| DaVita, Inc. Term Loan B, 1.78% - 2.10%, 10/05/12 | 900 | 859,821 | ||
| Fresenius AG Term Loan B1, 6.75%, 7/06/14 | 968 | 973,094 | ||
| Fresenius AG Term Loan B2, 6.75%, 7/06/14 | 521 | 524,217 | ||
| HCA Inc. Tranche A-1 Term Loan, 2.10%, 11/17/12 | 3,494 | 3,285,588 | ||
| HealthSouth Corp. Term Loan, 2.53% - 2.54%, | ||||
| 3/10/13 | 2,460 | 2,337,425 | ||
| Surgical Care Affiliates, LLC Term Loan, 2.60%, | ||||
| 12/29/14 | 393 | 353,445 | ||
| Vanguard Health Holding Co. II, LLC (Vanguard Health | ||||
| System, Inc.) Replacement Term Loan, 2.54%, | ||||
| 9/23/11 | 1,641 | 1,581,947 | ||
| 14,684,361 | ||||
| Hotels, Restaurants & Leisure - 3.1% | BLB Worldwide Holdings, Inc. (Wembley, Inc.) First | |||
| Priority Term Loan, 4.75%, 7/18/11 (b)(c) | 2,418 | 1,293,743 | ||
| BLB Worldwide Holdings, Inc. (Wembley, Inc.) Second | ||||
| Priority Term Loan, 7.06%, 7/18/12 (b)(c) | 1,500 | 90,000 | ||
| Golden Nugget, Inc. Additional Term Advance (First | ||||
| Lien), 2.28% - 2.66%, 6/30/14 | 272 | 184,759 | ||
| Golden Nugget, Inc. Second Lien Term Loan, 3.54%, | ||||
| 12/31/14 | 500 | 207,500 | ||
| Golden Nugget, Inc. Term Advance (First Lien), 2.29%, | ||||
| 6/30/14 | 477 | 324,545 | ||
| Green Valley Ranch Gaming, LLC Second Lien Term | ||||
| Loan, 3.88%, 8/16/14 | 1,500 | 255,000 |
8
$$/page=
| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| Green Valley Ranch Gaming, LLC Term Loan (New), | ||||
| 2.54% - 4.00%, 2/16/14 | USD | 471 | $ 316,457 | |
| Harrah's Operating Co., Inc. Term B-1 Loan, 3.50%, | ||||
| 1/28/15 | 278 | 222,410 | ||
| Harrah's Operating Co., Inc. Term B-2 Loan, 3.50%, | ||||
| 1/28/15 | 1,937 | 1,549,874 | ||
| Harrah's Operating Co., Inc. Term B-3 Loan, 3.50% - | ||||
| 3.60%, 1/28/15 | 790 | 632,128 | ||
| OSI Restaurant Partners, LLC Pre-Funded RC Loan, | ||||
| 0.45% - 2.63%, 6/14/13 | 32 | 24,489 | ||
| Penn National Gaming, Inc. Term Loan B, 2.03% - | ||||
| 2.21%, 10/03/12 | 2,612 | 2,548,976 | ||
| QCE, LLC (Quiznos) Term Loan (Second Lien), 6.35%, | ||||
| 11/05/13 | 2,500 | 1,268,750 | ||
| 8,918,631 | ||||
| Household Durables - 1.8% | American Residential Services LLC Term Loan (Second | |||
| Lien), 2.00% - 10.00%, 4/17/15 | 2,040 | 1,779,743 | ||
| Berkline/BenchCraft, LLC. Term Loan, 4.04%, | ||||
| 11/03/11 (b)(c) | 107 | 5,354 | ||
| Jarden Corporation Term Loan B3, 3.10%, 1/24/12 | 1,020 | 1,007,191 | ||
| Simmons Bedding Co. Tranche D Term Loan, 10.50%, | ||||
| 12/19/11 | 1,500 | 1,410,000 | ||
| Yankee Candle Co., Inc. Term Loan, 2.29%, | ||||
| 2/06/14 | 1,047 | 951,583 | ||
| 5,153,871 | ||||
| Household Products - 0.2% | VI-JON, Inc. (VJCS Acquisition, Inc.) Tranche B Term | |||
| Loan, 2.28%, 4/24/14 | 750 | 678,714 | ||
| IT Services - 3.6% | Amadeus IT Group SA / Amadeus Verwaltungs GmbH | |||
| Term B3 Facility, 2.54%, 6/30/13 | EUR | 615 | 749,017 | |
| Amadeus IT Group SA / Amadeus Verwaltungs GmbH | ||||
| Term B4 Facility, 2.54%, 6/30/13 | 489 | 596,264 | ||
| Amadeus IT Group SA / Amadeus Verwaltungs GmbH | ||||
| Term C3 Facility, 3.04%, 6/30/14 | 615 | 749,017 | ||
| Amadeus IT Group SA / Amadeus Verwaltungs GmbH | ||||
| Term C3 Facility, 3.04%, 6/30/14 | 489 | 596,264 | ||
| Audio Visual Services Group, Inc. Loan (Second Lien), | ||||
| 7.10%, 8/28/14 | USD | 1,040 | 66,288 | |
| Ceridian Corp U.S. Term Loan, 3.29%, 11/09/14 | 1,977 | 1,623,811 | ||
| First Data Corp. Initial Tranche B-1 Term Loan, 3.04%, | ||||
| 9/24/14 | 2,460 | 2,073,280 | ||
| First Data Corp. Initial Tranche B-2 Term Loan, 3.04%, | ||||
| 9/24/14 | 494 | 414,724 | ||
| First Data Corp. Initial Tranche B-3 Term Loan, 3.04%, | ||||
| 9/24/14 | 978 | 823,861 | ||
| RedPrairie Corp. Loan (Second Lien), 6.97%, 1/20/13 | 1,250 | 893,750 | ||
| RedPrairie Corp. Term Loan, 3.69% - 5.25%, | 861 | 740,245 | ||
| 7/20/12 | ||||
| SunGard Data Systems Inc. (Solar Capital Corp.) New | ||||
| US Term Loan, 6.75%, 2/28/14 | 598 | 596,355 |
9
$$/page=
| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| SunGard Data Systems, Inc. Term Loan B, 3.95% - | ||||
| 4.09%, 2/28/16 | USD | 451 | $ 430,981 | |
| 10,353,857 | ||||
| Independent Power Producers & Energy | Texas Competitive Electric Holdings Co., LLC (TXU) | |||
| Traders - 3.2% | Initial Tranche B-1 Term Loan, 3.78% - 3.79%, | |||
| 10/10/14 | 2,484 | 1,908,484 | ||
| Texas Competitive Electric Holdings Co., LLC (TXU) | ||||
| Initial Tranche B-2 Term Loan, 3.78% - 3.79%, | ||||
| 10/10/14 | 4,451 | 3,429,158 | ||
| Texas Competitive Electric Holdings Co., LLC (TXU) | ||||
| Initial Tranche B-3 Term Loan, 3.78% - 3.79%, | ||||
| 10/10/14 | 4,992 | 3,828,765 | ||
| 9,166,407 | ||||
| Insurance - 0.5% | Alliant Holdings I, Inc. Term Loan, 3.60%, 8/21/14 | 982 | 886,706 | |
| Conseco, Inc. Term Loan, 6.50%, 10/10/13 | 729 | 525,169 | ||
| 1,411,875 | ||||
| Internet & Catalog Retail - 0.3% | FTD Group, Inc. Tranche B Term Loan, 6.75%, 8/04/14 | 708 | 690,394 | |
| Oriental Trading Co., Inc. Loan (Second Lien), 6.29%, | ||||
| 1/31/14 | 500 | 70,000 | ||
| 760,394 | ||||
| Leisure Equipment & Products - 0.4% | 24 Hour Fitness Worldwide, Inc. Tranche B Term Loan, | |||
| 2.79% - 3.08%, 6/08/12 | 968 | 822,375 | ||
| Kerasotes Showplace Theatres, LLC Term B2, 5.06%, | ||||
| 10/28/11 | 553 | 414,486 | ||
| 1,236,861 | ||||
| Life Sciences Tools & Services - 0.8% | Life Technologies Corp. Term B Facility, 5.25%, | |||
| 11/20/15 | 2,378 | 2,393,351 | ||
| Machinery - 2.9% | Blount, Inc. Term Loan B, 2.03% - 3.25%, 8/09/10 | 535 | 497,223 | |
| CI Acquisition, Inc. (Chart Industries) Term Loan B, | ||||
| 2.31%, 10/17/12 | 222 | 204,444 | ||
| LN Acquisition Corp. (Lincoln Industrial) Delayed Draw | ||||
| Term Loan (First Lien), 2.83%, 7/11/14 | 254 | 226,534 | ||
| LN Acquisition Corp. (Lincoln Industrial) Initial U.S. | ||||
| Term Loan (First Lien), 2.78% - 2.83%, 7/11/14 | 677 | 604,090 | ||
| NACCO Materials Handling Group, Inc. Loan, 2.29% - | ||||
| 3.41%, 3/21/13 | 485 | 329,800 | ||
| Navistar International Corp. Revolving Credit-Linked | ||||
| Deposit, 3.37% - 3.54%, 1/19/12 | 1,333 | 1,235,556 | ||
| Navistar International Corp. Term Advance, 3.54%, | ||||
| 1/19/12 | 3,667 | 3,397,779 | ||
| Oshkosh Truck Corp. Term B Loan, 6.60% - 6.64%, | ||||
| 12/06/13 | 1,493 | 1,474,336 | ||
| Standard Steel, LLC Delayed Draw Term Loan, 8.25%, | ||||
| 7/02/12 | 74 | 59,477 | ||
| Standard Steel, LLC Initial Term Loan, 9.00%, 7/02/12 | 369 | 295,105 | ||
| 8,324,344 | ||||
| Marine - 1.0% | Delphi Acquisition Holding I B.V. (fka Dockwise) | |||
| Facility B1, 2.60%, 1/12/15 | 1,158 | 945,904 |
10
$$/page=
| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| Delphi Acquisition Holding I B.V. (fka Dockwise) | ||||
| Facility C1, 3.47%, 1/11/16 | USD | 1,158 | $ 945,904 | |
| Delphi Acquisition Holding I B.V. (fka Dockwise) | ||||
| Facility D1, 4.78%, 1/11/16 | 1,650 | 945,999 | ||
| 2,837,807 | ||||
| Media - 25.1% | Acosta, Inc. Term Loan, 2.54%, 7/28/13 | 1,188 | 1,120,824 | |
| Affinion Group Holdings, Inc. Loan, 9.27%, 3/01/12 | 975 | 819,000 | ||
| AlixPartners, LLP Tranche C Term Loan, | ||||
| 2.28% - 2.51%, 10/12/13 | 931 | 912,840 | ||
| Alpha Topco Ltd. (Formula One) Facility B1, 2.54%, | ||||
| 12/31/13 | 560 | 410,460 | ||
| Alpha Topco Ltd. (Formula One) Facility B2, 2.54%, | ||||
| 12/31/13 | 378 | 277,254 | ||
| Amsterdamse Beheer - En Consultingmaatschappij | ||||
| B.V. (Casema) Casema B1 Term Loan Facility, 3.04%, | ||||
| 11/02/14 | EUR | 625 | 842,556 | |
| Amsterdamse Beheer - En Consultingmaatschappij | ||||
| B.V. (Casema) Casema C Term Loan Facility, 3.54%, | ||||
| 11/02/15 | 625 | 842,556 | ||
| Atlantic Broadband Finance, LLC Tranche B-2 Term | ||||
| Loan, 2.85%, 9/01/11 | USD | 70 | 68,671 | |
| Atlantic Broadband Term Loan B, 6.75%, 6/01/13 | 1,871 | 1,864,536 | ||
| Bresnan Communications, LLC Additional Term Loan B | ||||
| (First Lien), 2.51% - 2.61%, 6/30/13 | 949 | 906,414 | ||
| Bresnan Communications, LLC Second Lien Term Loan, | ||||
| 4.78%, 3/29/14 | 250 | 229,375 | ||
| CSC Holdings Inc. (Cablevision) Incremental Term | ||||
| Loan, 2.02% - 2.07%, 3/29/13 | 2,134 | 2,058,888 | ||
| Catalina Marketing Corp. Initial Term Loan, 3.03%, | ||||
| 10/01/14 | 1,391 | 1,319,484 | ||
| Cengage Learning Acquisitions, Inc. (Thomson | ||||
| Learning) Tranche 1 Incremental Term Loan, 7.50%, | ||||
| 7/03/14 | 5,425 | 5,179,790 | ||
| Cequel Communications, LLC (aka Cebridge) Term | ||||
| Loan, 2.28% - 4.25%, 11/05/13 | 4,863 | 4,633,800 | ||
| Charter Communications Operating, LLC Replacement | ||||
| Term Loan, 6.25%, 3/06/14 | 1,302 | 1,214,960 | ||
| Charter Communications Term Loan B1, 5.23% - 6.25%, | ||||
| 3/25/14 | 1,750 | 1,738,625 | ||
| Clarke American Corp. Tranche B Term Loan, 2.79%, | ||||
| 6/30/14 | 1,962 | 1,528,268 | ||
| FoxCo Acquisition Sub, LLC Term Loan, 7.25%, 7/14/15 | 897 | 701,730 | ||
| Gray Television, Inc. Term Loan B - DD, 3.78%, | ||||
| 12/31/14 | 842 | 528,984 | ||
| HIT Entertainment, Inc. Second Lien, 5.98%, 2/26/13 | 1,000 | 410,000 | ||
| HMH Publishing Co. Ltd. (fka Education Media) | ||||
| Mezzanine, 5.26% - 5.50%, 11/14/14 | 7,344 | 1,101,567 | ||
| HMH Publishing Co. Ltd. (fka Education Media) Tranche | ||||
| A Term Loan, 7.42% - 7.66%, 6/12/14 | 2,633 | 1,952,982 |
11
$$/page=
| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| Hanley-Wood, LLC (FSC Acquisition) Term Loan, | ||||
| 2.53% - 2.54%, 3/08/14 | USD | 2,217 | $ 914,714 | |
| Hargray Acquisition Co./DPC Acquisition LLC/HCP | ||||
| Acquisition LLC, Loan (Second Lien), 5.97%, 1/29/15 | 500 | 240,000 | ||
| Hargray Acquisition Co./DPC Acquisition LLC/HCP | ||||
| Acquisition LLC, Term Loan (First Lien), 2.72%, 6/27/14 | 973 | 868,487 | ||
| Insight Midwest Holdings, LLC B Term Loan, 2.28%, | ||||
| 4/07/14 | 700 | 659,500 | ||
| Kabel Deutschland Holding GmbH A Facility, 2.29%, | ||||
| 6/01/12 | EUR | 4,000 | 5,310,643 | |
| Knology, Inc. Term Loan, 2.54%, 6/30/12 | USD | 483 | 445,382 | |
| Lamar Advertising Co. Term Loan B, 5.50%, 9/30/12 | 1,825 | 1,797,625 | ||
| Lavena Holding 3 GmbH (Prosiebensat.1 Media AG) | ||||
| Facility B1, 3.53%, 6/28/15 | EUR | 337 | 173,413 | |
| Lavena Holding 3 GmbH (Prosiebensat.1 Media AG) | ||||
| Facility C1, 3.78%, 6/30/16 | 674 | 346,826 | ||
| Liberty Cablevision of Puerto Rico, Ltd. Initial Term | ||||
| Facility, 2.27%, 6/17/14 | USD | 1,470 | 1,102,500 | |
| Local TV Finance, LLC Term Loan, 2.29%, 5/07/13 | 741 | 444,332 | ||
| MCC Iowa LLC (Mediacom Broadband Group) Tranche A | ||||
| Term Loan, 1.76%, 3/31/10 | 505 | 495,197 | ||
| MCC Iowa LLC (Mediacom Broadband Group) Tranche D- | ||||
| 1 Term Loan, 2.01%, 1/31/15 | 1,213 | 1,137,318 | ||
| MCNA Cable Holdings LLC (OneLink Communications) | ||||
| Loan (PIK facility), 8.31%, 3/01/13 | 1,855 | 370,926 | ||
| Mediacom Broadband (Term Loan E), 6.50%, 11/30/15 | 598 | 597,741 | ||
| Mediannuaire Holding (Pages Jaunes) Term Loan B2, | ||||
| 2.77%, 1/11/15 | EUR | 438 | 357,444 | |
| Mediannuaire Holding (Pages Jaunes) Term Loan C, | ||||
| 3.27%, 1/11/16 | 905 | 739,482 | ||
| Mediannuaire Holding (Pages Jaunes) Term Loan D, | ||||
| 4.77%, 1/11/17 | 500 | 228,047 | ||
| Metro-Goldwyn-Mayer Inc. Tranche B Term Loan, | ||||
| 3.54%, 4/09/12 | USD | 1,910 | 1,093,585 | |
| Mission Broadcasting, Inc. Term B Loan, 2.35%, | ||||
| 10/01/12 | 1,771 | 1,301,944 | ||
| Multicultural Radio Broadcasting, Inc. Term Loan, | ||||
| 3.03%, 12/18/12 | 320 | 224,000 | ||
| NTL Cable Plc Term Loan, 3.89%, 11/19/37 | GBP | 942 | 1,446,046 | |
| NV Broadcasting, LLC Second Lien, 5.25%, | ||||
| 11/03/14 (b)(c) | USD | 1,500 | 15,000 | |
| NV Broadcasting, LLC Term Loan (First Lien), 5.25%, | ||||
| 11/01/13 (b)(c) | 821 | 205,367 | ||
| New Vision DIP Term Loan, 10.30%, 7/14/12 | 120 | 118,800 | ||
| Newsday, LLC Fixed Rate Term Loan, 9.75%, 8/01/13 | 1,500 | 1,515,000 | ||
| Newsday, LLC Floating Rate Term Loan, 6.01%, 8/01/13 | 1,250 | 1,229,688 | ||
| Nexstar Broadcasting, Inc. Term B Loan, 2.09% - | ||||
| 2.35%, 10/01/12 | 1,873 | 1,376,614 |
12
$$/page=
| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| Nielsen Finance LLC Dollar Term Loan, 2.28%, 8/09/13 | USD | 1,178 | $ 1,092,744 | |
| Parkin Broadcasting, LLC Term Loan, 5.25%, | ||||
| 11/01/13 | 169 | 42,127 | ||
| Penton Media, Inc. Loan (Second Lien), 5.49%, | 1,000 | 210,000 | ||
| Penton Media, Inc. Term Loan (First Lien), 2.54% - | ||||
| 2.74%, 2/01/13 | 1,100 | 695,552 | ||
| Puerto Rico Cable Acquisition Co. Inc. (D/B/A Choice TV) | ||||
| Term Loan (Second Lien), 7.81%, 2/15/12 | 692 | 450,000 | ||
| Quebecor Media Exit Term Loan, 9.00%, 6/30/12 | 1,625 | 1,576,250 | ||
| Quebecor Media Term Loan B, 2.51%, 1/17/13 | 724 | 667,659 | ||
| Sunshine Acquisition Ltd. (aka HIT Entertainment) | ||||
| Term Facility, 2.73%, 7/31/14 | 1,098 | 878,441 | ||
| TWCC Holding Corp. Term Loan, 7.25%, 9/14/15 | 1,740 | 1,754,128 | ||
| Telecommunications Management, LLC Multi-Draw | ||||
| Term Loan, 3.79%, 6/30/13 | 232 | 139,381 | ||
| Telecommunications Management, LLC Term Loan, | ||||
| 3.79%, 6/30/13 | 922 | 552,900 | ||
| United Pan Europe Communications Term Loan, 4.54%, | ||||
| 12/31/17 | EUR | 3,767 | 4,804,901 | |
| Virgin Media Investment Holdings Limited (fka NTL) C | ||||
| Facility, 3.62% - 3.89%, 7/17/13 | GBP | 1,945 | 2,840,872 | |
| Yell Group Plc Facility B2, 3.54%, 4/30/11 | EUR | 1,750 | 1,503,684 | |
| 72,627,824 | ||||
| Metals & Mining - 0.5% | Algoma Steel Inc. Term Loan, 2.79%, 6/20/13 | USD | 1,939 | 1,589,838 |
| Multi-Utilities - 0.6% | FirstLight Power Resources, Inc. (fka NE Energy, Inc.) | |||
| First Lien Term Loan B, 3.13%, 11/01/13 | 1,230 | 1,117,643 | ||
| FirstLight Power Resources, Inc. (fka NE Energy, Inc.) | ||||
| Second Lien Term Loan, 5.13%, 5/01/14 | 750 | 558,750 | ||
| FirstLight Power Resources, Inc. (fka NE Energy, Inc.) | ||||
| Synthetic Letter of Credit, 0.48% - 2.65%, 11/01/13 | 159 | 144,004 | ||
| Mach Gen, LLC Synthetic Letter of Credit Loan | ||||
| (First Lien), 0.35% - 2.25%, 2/22/13 | 69 | 61,167 | ||
| 1,881,564 | ||||
| Multiline Retail - 0.4% | Dollar General Corp. Tranche B-1 Term Loan, 3.02% - | |||
| 3.24%, 7/07/14 | 1,250 | 1,214,454 | ||
| Oil, Gas & Consumable Fuels - 2.0% | Big West Oil, LLC Delayed Advance Loan, 4.50%, | |||
| 5/15/14 | 994 | 874,681 | ||
| Big West Oil, LLC Initial Advance Loan, 4.50%, | ||||
| 5/15/14 | 612 | 538,269 | ||
| Coffeyville Resources, LLC Funded Letter of Credit, | ||||
| 3.15% - 5.60%, 12/28/10 | 130 | 123,892 | ||
| Coffeyville Resources, LLC Tranche D Term Loan, | ||||
| 8.75%, 12/30/13 | 1,039 | 992,591 | ||
| Drummond Co., Inc. Term Advance, 1.54%, | ||||
| 2/14/11 | 1,075 | 1,042,750 | ||
| Niska Gas Storage Canada ULC Canadian Term Loan B, | ||||
| 2.02%, 5/12/13 | 451 | 424,722 |
13
$$/page=
| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Industry | Floating Rate Loan Interests | (000) | Value | |
| Niska Gas Storage US, LLC US Term B Loan, 2.02%, | ||||
| 5/12/13 | USD | 47 $ | 44,630 | |
| Niska Gas Storage US, LLC Wild Goose Acquisition | ||||
| Draw-US Term B, 2.02%, 5/12/13 | 32 | 30,232 | ||
| Vulcan Energy Corp. (fka Plains Resources Inc.) Term | ||||
| B3 Loan, 5.50%, 8/12/11 | 1,750 | 1,697,500 | ||
| 5,769,267 | ||||
| Paper & Forest Products - 1.6% | Georgia-Pacific LLC Term B Loan, 2.34% - 2.65%, | |||
| 12/20/12 | 3,271 | 3,146,455 | ||
| NewPage Corporation Term Loan, 4.06%, 12/22/14 | 1,580 | 1,363,912 | ||
| Verso Paper Finance Holdings LLC Loan, 6.73% - 7.48%, | ||||
| 2/01/13 | 353 | 70,668 | ||
| 4,581,035 | ||||
| Personal Products - 0.5% | American Safety Razor Co., LLC Loan (Second Lien), | |||
| 6.54%, 1/30/14 | 2,000 | 1,400,000 | ||
| Pharmaceuticals - 1.5% | Catalent Pharma Solutions, Inc. (fka Cardinal Health | |||
| 409, Inc.) Euro Term Loan, 2.79%, 4/15/14 | EUR | 2,450 | 2,968,173 | |
| Warner Chilcott Co., Inc. Tranche B Acquisition Date | ||||
| Term Loan, 2.29% - 2.60%, 1/18/12 | USD | 1,043 | 1,011,795 | |
| Warner Chilcott Corp. Tranche C Acquisition Date | ||||
| Term Loan, 2.29%, 1/18/12 | 413 | 400,776 | ||
| 4,380,744 | ||||
| Professional Services - 0.3% | Booz Allen Hamilton, Inc. Tranche B Term Loan, | |||
| 7.50%, 7/31/15 | 995 | 996,240 | ||
| Real Estate Management & | Enclave First Lien Term Loan, 6.14%, 3/01/12 | 2,000 | 270,624 | |
| Development - 0.2% | Georgian Towers Term Loan, 6.14%, 3/01/12 | 2,000 | 254,440 | |
| Pivotal Promontory, LLC Second Lien Term Loan, | ||||
| 14.75%, 8/31/11 (b)(c) | 750 | 37,500 | ||
| 562,564 | ||||
| Software - 0.2% | Bankruptcy Management Solutions, Inc. First Lien | |||
| Term Loan, 4.29%, 7/31/12 | 945 | 529,339 | ||
| Bankruptcy Management Solutions, Inc. Loan (Second | ||||
| Lien), 6.54%, 7/31/13 | 486 | 98,466 | ||
| 627,805 | ||||
| Specialty Retail - 0.7% | Adesa, Inc. (KAR Holdings, Inc.) Initial Term Loan, | |||
| 2.54%, 10/20/13 | 500 | 463,750 | ||
| General Nutrition Centers, Inc. Term Loan, 2.53% - | ||||
| 2.85%, 9/16/13 | 261 | 236,875 | ||
| Orchard Supply Hardware Term Loan B, 2.72%, | ||||
| 12/21/13 | 1,500 | 1,200,000 | ||
| 1,900,625 | ||||
| Trading Companies & Distributors - 0.4% | Beacon Sales Acquisition, Inc. Term B Loan, 2.29% - | |||
| 2.60%, 9/30/13 | 1,191 | 1,071,563 | ||
| Wireless Telecommunication | Digicel Group Term Loan B, 3.13%, 3/01/12 | 2,325 | 2,220,375 | |
| Services - 1.3% | MetroPCS Wireless, Inc. New Tranche B Term Loan, | |||
| 2.56% - 2.75%, 11/03/13 | 1,609 | 1,536,984 | ||
| 3,757,359 |
14
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| BlackRock Floating Rate Income Trust — Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
|---|---|---|---|---|
| Par | ||||
| Floating Rate Loan Interests | (000) | Value | ||
| Total Floating Rate Loan Interests | - 99.7% | $ 288,172,035 | ||
| Foreign Government Obligations | ||||
| Brazilian Government International Bond, 10.30%, | ||||
| 6/17/13 | USD | 475 | 589,000 | |
| Colombia Government International Bond, 4.16%, | ||||
| 3/17/13 (a)(g) | 1,200 | 1,215,000 | ||
| Mexican Bonos Series M, 9.00%, 12/22/11 | MXN | 13,520 | 1,101,068 | |
| Republic of Venezuela, 1.51%, 4/20/11 (a)(g) | USD | 4,000 | 3,360,000 | |
| South Africa Government International Bond, 7.38%, | ||||
| 4/25/12 | 2,400 | 2,628,000 | ||
| Turkey Government International Bond, 7.00%, | ||||
| 9/26/16 | 2,735 | 2,858,075 | ||
| Uruguay Government International Bond, 6.88%, | ||||
| 1/19/16 | EUR | 950 | 1,313,408 | |
| Total Foreign Government Obligations - 4.5% | 13,064,551 | |||
| Industry | Common Stocks | Shares | ||
| Chemicals - 0.0% | British Vita Holding Co. (e) | 166 | 946 | |
| Commercial Services & Supplies - 0.0% | Sirva | 554 | 2,770 | |
| Construction & Engineering - 0.0% | USI United Subcontractors | 7,639 | 76,388 | |
| Metals & Mining - 0.0% | Euramax International | 1,135 | 12,203 | |
| Paper & Forest Products - 0.1% | Ainsworth Lumber Co. Ltd. (e) | 55,855 | 51,850 | |
| Ainsworth Lumber Co. Ltd. (b)(e) | 62,685 | 57,983 | ||
| 109,833 | ||||
| Total Common Stocks - 0.1% | 202,140 | |||
| Preferred Securities | ||||
| Preferred Stocks | ||||
| Capital Markets - 0.0% | Marsico Parent Superholdco, LLC, 16.80% (e) | 100 | 25,000 | |
| Total Preferred Securities - 0.0% | 25,000 | |||
| Warrants (h) | ||||
| Chemicals - 0.0% | British Vita Holding Co. (non-expiring) (e) | 166 | - | |
| Machinery - 0.0% | Synventive Molding Solutions (expires 1/15/13) | 2 | - | |
| Total Warrants | - | |||
| Beneficial | ||||
| Interest | ||||
| Other Interests (i) | (000) | |||
| Commercial Services & Supplies - 0.2% | J.G. Wentworth LLC Preferred Equity Interests | USD | 1 | 434,273 |
| Health Care Providers & Services - 0.0% | Critical Care Systems International, Inc. | 1 | 191 | |
| Household Durables - 0.0% | Berkline BenchCraft Equity LLC | 6 | - | |
| Total Other Interests - 0.2% | 434,464 | |||
| Total Long-Term Investments | ||||
| (Cost - $445,299,792) - 128.8% | 372,222,516 | |||
| Short-Term Securities | Shares | |||
| BlackRock Liquidity Funds, TempFund, | ||||
| 0.29% (j)(k) | 2,700,766 | 2,700,766 | ||
| Total Short-Term Securities (Cost - $2,700,766) - 0.9% | 2,700,766 |
15
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| BlackRock Floating Rate Income Trust | |||||||
|---|---|---|---|---|---|---|---|
| Schedule of Investments July 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | ||||||
| Options Purchased | Contracts | Value | |||||
| Over-the-Counter Put Options | Marsico Parent Superholdco LLC, expiring December 2009 | ||||||
| at USD 942.86, Broker Goldman Sachs Group, Inc. | 26 | $ 26,000 | |||||
| Total Options Purchased | |||||||
| (Cost - $25,422) - 0.0% | 26,000 | ||||||
| Total Investments | |||||||
| (Cost - $448,025,980*) - 129.7% | 374,949,282 | ||||||
| Liabilities in Excess of Other Assets - (9.4)% | (27,128,657) | ||||||
| Preferred Shares, at Redemption Value - (20.3)% | (58,818,100) | ||||||
| Net Assets Applicable to Common Shares - 100.0% | $ 289,002,525 | ||||||
| * | The cost and unrealized appreciation (depreciation) of investments as of July 31, 2009, as computed for | ||||||
| federal income tax purposes, were as follows: | |||||||
| Aggregate cost | $ 448,092,109 | ||||||
| Gross unrealized appreciation | $ 7,660,538 | ||||||
| Gross unrealized depreciation | (80,803,365) | ||||||
| Net unrealized depreciation | $ (73,142,827) | ||||||
| (a) | Variable rate security. Rate shown is as of report date. | ||||||
| (b) | Non-income producing security. | ||||||
| (c) | Issuer filed for bankruptcy and/or is in default of interest payments. | ||||||
| (d) | Represents a payment-in-kind security which may pay interest/dividends in additional par/shares. | ||||||
| (e) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in | ||||||
| transactions exempt from registration to qualified institutional investors. | |||||||
| (f) | Convertible security. | ||||||
| (g) | Restricted securities as to resale, representing 6.0% of net assets were as follows: | ||||||
| Acquisition | |||||||
| Issue | Date(s) | Cost | Value | ||||
| Colombia Government International Bond, 4.16%, 3/17/13 | 2/15/06 | $ 1,283,218 | $ 1,215,000 | ||||
| Pemex Project Funding Master Trust, 2.31%, 10/15/09 | 8/27/04 - 12/15/04 | 12,726,080 | 12,731,750 | ||||
| Republic of Venezuela, 1.51%, 4/20/11 | 10/26/04 | 3,836,487 | 3,360,000 | ||||
| Total | $ 17,845,785 | $ 17,306,750 | |||||
| (h) | Warrants entitle the Trust to purchase a predetermined number of shares of common stock and are non-income producing. | ||||||
| The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date. | |||||||
| (i) | Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income | ||||||
| producing. | |||||||
| (j) | Represents the current yield as of report date. | ||||||
| (k) | Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment | ||||||
| Company Act of 1940, were as follows: | |||||||
| Affiliate | Net Activity | Income | |||||
| BlackRock Liquidity Funds, TempFund | 2,700,766 | $ 14,766 | |||||
| | Foreign currency exchange contracts as of July 31, 2009 were as follows: | ||||||
| Unrealized | |||||||
| Currency | Currency | Settlement | Appreciation | ||||
| Purchased | Sold | Counterparty | Date | (Depreciation) | |||
| USD | 9,179,134 | GBP | 5,551,000 | Barclays Bank Plc | 8/26/09 | $ (92,985) | |
| GBP | 265,000 | USD | 432,960 | Citibank NA | 8/26/09 | 9,683 | |
| USD | 446,347 | EUR | 320,000 | Citibank NA | 8/26/09 | (9,776) | |
| USD | 3,556,660 | GBP | 2,175,000 | Citibank NA | 8/26/09 | (76,354) | |
| USD | 722,857 | MXN | 9,801,000 | Citibank NA | 8/26/09 | (16,534) | |
| USD | 557,878 | EUR | 400,000 | Citibank NA | 9/15/09 | (12,280) | |
| 16 |
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| BlackRock Floating Rate Income Trust | |||||||
|---|---|---|---|---|---|---|---|
| Schedule of Investments July 31, 2009 (Unaudited) | |||||||
| | Foreign currency exchange contracts as of July 31, 2009 were as follows: | ||||||
| Unrealized | |||||||
| Currency | Currency | Settlement | Appreciation | ||||
| Purchased | Sold | Counterparty | Date | (Depreciation) | |||
| USD | 61,198,905 | EUR | 43,830,500 | Deutsche Bank AG | 9/16/09 | $ (1,276,863) | |
| USD | 748,122 | EUR | 530,000 | UBS AG | 9/16/09 | (7,338) | |
| Total | $ (1,482,447) | ||||||
| | Credit default swaps on single-name issues - sold protection outstanding as of July 31, 2009 were as follows: | ||||||
| Receive | Notional | ||||||
| Fixed | Credit | Amount | Unrealized | ||||
| Issuer | Rate | Counterparty | Expiration | Rating (1) | (000) (2) | Depreciation | |
| BAA Ferovial | Credit Suisse | ||||||
| Junior Term Loan | 2.00% | International | March 2012 | AA- | USD 1,800 | $ (866,873) | |
| 1 Using Standard & Poor's rating of the issuer. | |||||||
| 2 The maximum potential amount the Trust may pay should a negative credit event take place as defined | |||||||
| under | |||||||
| the terms of the agreement. | |||||||
| | Credit default swaps on traded indexes - buy protection outstanding as of July 31, 2009 were as follows: | ||||||
| Pay | Notional | ||||||
| Fixed | Amount | Unrealized | |||||
| Issuer | Rate | Counterparty | Expiration | (000) | Depreciation | ||
| Dow Jones CDX North America | |||||||
| High Yield Index Series 10 Class V1 | 5.00% | Deutsche Bank AG | June 2014 | USD 470 | $ (45,710) |
EUR GBP MXN USD Euro British Pound Mexican Peso US Dollar
| Effective November 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157
clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various |
| --- |
| are used in determining the fair value of investments, which are as follows: |
| Level 1 - price quotations in active markets/exchanges for identical securities |
| Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets
or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates)
or other market- corroborated inputs) |
| Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust's own assumptions used in
determining the fair value of investments) |
| The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust's policy
regarding valuation of investments and other significant accounting policies, please refer to the Trust's most recent financial statements as contained in its semi-annual report. |
17
$$/page=
| BlackRock Floating Rate Income Trust | ||
|---|---|---|
| Schedule of Investments July 31, 2009 (Unaudited) | ||
| The following table summarizes the inputs used as of July 31, 2009 in determining the fair valuation of the | ||
| Trust's investments: | ||
| Valuation | Investments in | |
| Inputs | Securities | |
| Assets | ||
| Level 1 | ||
| Long-Term Investments: | ||
| Common Stocks 1 | $ 51,850 | |
| Short-Term Securities | 2,700,766 | |
| Total Level 1 | 2,752,616 | |
| Level 2 | ||
| Long-Term Investments: | ||
| Corporate Bonds | 69,787,623 | |
| Floating Rate Loan Interests | 182,687,628 | |
| Foreign Government Obligations | 13,064,551 | |
| Common Stocks | ||
| Commercial Services and Supplies | 2,770 | |
| Paper & Forest Products | 57,983 | |
| Preferred Stocks | 25,000 | |
| Other Interests | 434,273 | |
| Total Level 2 | 266,059,828 | |
| Level 3 | ||
| Long-Term Investments: | ||
| Corporate Bonds | 536,702 | |
| Floating Rate Loan Interests | 105,484,408 | |
| Common Stocks | ||
| Chemicals | 946 | |
| Construction & Engineering | 76,388 | |
| Metals & Mining | 12,203 | |
| Other Interests | 191 | |
| Total Level 3 | 106,110,838 | |
| Total | $ 374,923,282 | |
| 1 See above Schedule of Investments for values in each | ||
| industry excluding the industries in Level 2 and | ||
| Level 3 within the table. | ||
| Other Financial | ||
| Instruments 2 | ||
| Assets | Liabilities | |
| Level 1 | $ 26,000 | - |
| Level 2 | 9,683 | $ (1,537,840) |
| Level 3 | - | (866,873) |
| Total | $ 35,683 | $ (2,404,713) |
| 2 Other financial instruments are swaps, foreign | ||
| currency exchange contracts and options. Swaps and foreign currency | ||
| exchange contracts are valued at the unrealized appreciation/depreciation on the instrument and options are shown | ||
| at | ||
| market value. | ||
| 18 |
$$/page=
| BlackRock Floating Rate Income Trust | |||||
|---|---|---|---|---|---|
| Schedule of Investments July 31, 2009 (Unaudited) | |||||
| The following is a reconciliation of investments for unobservable inputs (Level 3) used in determining fair value: | |||||
| Investments in Securities | |||||
| Corporate | Floating Rate | Common | Other | ||
| Bonds | Loan Interests | Stocks | Interests | Total | |
| Balance, as of October 31, 2008 | - | $ 119,861,911 | - | $ 318 | $ 119,862,229 |
| Accrued discounts/premiums | - | - | - | - | - |
| Realized gain (loss) | - | (16,266,870) | - | - | (16,266,870) |
| Change in unrealized appreciation | |||||
| - | |||||
| (depreciation) | 22,347,356 | $ 946 | (127) | 22,348,175 | |
| Net purchases (sales) | - | (32,603,300) | - | - | (32,603,300) |
| Net transfers in/out of Level 3 | $ 536,702 | 12,145,311 | 88,591 | - | 12,770,604 |
| Balance, as of July 31, 2009 | $ 536,702 | $ 105,484,408 | $ 89,537 | $ 191 | $ 106,110,838 |
| The following is a reconciliation of investments for unobservable inputs (Level 3) used in determining fair value: | |||||
| Other Financial | |||||
| Instruments 3 | |||||
| Liabilities | |||||
| Balance, as of Ocober 31, 2008 | $ (543,254) | ||||
| Accrued discounts/premiums | - | ||||
| Realized gain (loss) | - | ||||
| Change in unrealized appreciation (depreciation) | (323,619) | ||||
| Net purchases (sales) | - | ||||
| Net transfers in/out of Level 3 | - | ||||
| Balance, as of July 31, 2009 | $ (866,873) | ||||
| 3 Other financial instruments are swaps which are shown | |||||
| at the unrealized appreciation/depreciation on the instrument. | |||||
| 19 |
$$/page=
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 13(a)-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 Floating Rate Income Trust By: /s/ Anne F. Ackerley Anne F. Ackerley Chief Executive Officer of BlackRock Floating Rate Income Trust Date: September 22, 2009 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/ Anne F. Ackerley Anne F. Ackerley Chief Executive Officer (principal executive officer) of BlackRock Floating Rate Income Trust Date: September 22, 2009 By: /s/ Neal J. Andrews Neal J. Andrews Chief Financial Officer (principal financial officer) of BlackRock Floating Rate Income Trust Date: September 22, 2009
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