Moody's Investors Service ("Moody's") has placed on review for downgrade the Aa3 ratings assigned to preferred shares issued by the following 12 closed-end funds: Eaton Vance Floating-Rate Income Plus Fund (EFF), Eaton Vance Floating-Rate Income Trust (EFT), Eaton Vance Senior Floating-Rate Trust (EFR), Eaton Vance Senior Income Trust (EVF), Eaton Vance Limited Duration Income Fund (EVV), FS Global Credit Opportunities Fund (FSGCO; unlisted), Invesco Senior Income Trust (VVR), Invesco Dynamic Credit Opportunities Fund (VTA), Nuveen Short Duration Credit Opportunities Fund (JSD), Nuveen Floating Rate Income Opportunity Fund (JRO), Nuveen Senior Income Fund (NSL) and Nuveen Floating Rate Income Fund (JFR). Today's rating actions reflect the severe and extensive credit and market shocks the coronavirus pandemic and falling oil prices have had on the bank loan market.

Eaton Vance Municipal Bond Fund (NYSE American: EIM) (the "Fund") announced today that it will conduct a tender offer for up to 5% of its outstanding common shares at a price per share equal to 98% of the Fund's net asset value ("NAV") per share as of the close of regular trading on the New York Stock Exchange (NYSE) on the date the tender offer expires. On January 21, 2020, the Fund announced that it would conduct the tender offer if, during a 120-day period that commenced on January 22, 2020 and ended on May 20, 2020, the Fund's common shares trade at an average discount to NAV of more than 6% (based upon the average of the difference between its volume-weighted average market price and NAV each business day during the period). This condition was met. The Fund will commence the tender offer on or about June 25, 2020.

Eaton Vance Floating-Rate Income Plus Fund (NYSE: EFF) (the "Fund") announced today the election of David Basile, Peter Borish and Charles I. Clarvit to the Fund's Board of Trustees (the "Board") at the Annual Meeting of Shareholders held on April 16, 2020. The three newly-elected Trustees, each nominated by Saba Capital Master Fund, Ltd. on behalf of itself and its investment adviser, Saba Capital Management, L.P., join eight continuing Trustees as members of the Board. At the Annual Meeting of Shareholders, a non-binding shareholder proposal for the Board to take necessary steps to declassify the Board so that all Trustees are elected on an annual basis was also approved. The Board will take the declassification proposal into consideration. The vote tabulations, as certified by First Coast Results, Inc., the Fund's independent inspector of election, will be published in the Fund's next report to shareholders.

Eaton Vance (EV) delivered earnings and revenue surprises of 12.68% and -5.31%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?

The Board of Trustees of Eaton Vance High Income 2021 Target Term Trust (NYSE: EHT) (the Trust) has approved a change to the Trust's investment policies effective immediately. The Trust's investment objectives are high current income and to return $9.85 per share (the original net asset value per common share of beneficial interest (Common Share) before deducting offering costs of $0.02 per Common Share (Original NAV) to Common Shareholders on or about July 1, 2021. The objective to return the Trust's Original NAV is not an express or implied guarantee obligation of the Trust or any other entity.

NEW YORK, NY / ACCESSWIRE / May 20, 2020 / Eaton Vance Corp. (NYSE:EV) will be discussing their earnings results in their 2020 Second Quarter Earnings call to be held on May 20, 2020 at 11:00 AM Eastern ...

Eaton Vance's (EV) Q2 results underline lower expenses, as well as fall in revenues and assets under management (AUM) balance.

Eaton Vance Corp. (NYSE: EV) will host a conference call and webcast at 11:00 AM ET on Wednesday, May 20, 2020 to discuss financial results for the fiscal quarter ended April 30, 2020. The call will follow a news release announcing second fiscal quarter earnings that will be issued at approximately 9:00 AM ET on May 20, 2020.

Eaton Vance Corp. (NYSE: EV) today reported consolidated assets under management of $436.8 billion on March 31, 2020. This compares to $518.2 billion on January 31, 2020, the close of the Company's first fiscal quarter.

Eaton Vance Corp. (NYSE: EV) today reported that Payson F. Swaffield, CFA, Vice President and Chief Income Investment Officer (CIIO) of Eaton Vance Management (EVM), has announced his intention to retire at the Company's fiscal year-end on October 31, 2020. A search for Mr. Swaffield's successor is now underway, with both internal and external candidates being considered.

Moody's Investors Service ("Moody's") has placed on review for downgrade the Aa3 ratings assigned to preferred shares issued by the following 12 closed-end funds: Eaton Vance Floating-Rate Income Plus Fund (EFF), Eaton Vance Floating-Rate Income Trust (EFT), Eaton Vance Senior Floating-Rate Trust (EFR), Eaton Vance Senior Income Trust (EVF), Eaton Vance Limited Duration Income Fund (EVV), FS Global Credit Opportunities Fund (FSGCO; unlisted), Invesco Senior Income Trust (VVR), Invesco Dynamic Credit Opportunities Fund (VTA), Nuveen Short Duration Credit Opportunities Fund (JSD), Nuveen Floating Rate Income Opportunity Fund (JRO), Nuveen Senior Income Fund (NSL) and Nuveen Floating Rate Income Fund (JFR). Today's rating actions reflect the severe and extensive credit and market shocks the coronavirus pandemic and falling oil prices have had on the bank loan market.

EV earnings call for the period ending April 30, 2020.

Shares of Eaton Vance (NYSE:EV) fell 3% after the company reported Q2 results.Quarterly Results Earnings per share were down 10.11% year over year to $0.80, which beat the estimate of $0.76.Revenue of $405,911,000 decreased by 1.44% from the same period last year, which missed the estimate of $427,780,000.Outlook Earnings guidance hasn't been issued by the company for now.Eaton Vance hasn't issued any revenue guidance for the time being.Details Of The Call Date: May 20, 2020View more earnings on EVTime: 11:00 AMET Webcast URL: https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=3613D6DF-2A59-4AD4-858E-E6DEBF779FFDPrice Action 52-week high: $51.7952-week low: $23.59Price action over last quarter: down 20.43%Company Overview Eaton Vance provides asset-management and investment advisory services to institutional and individual investors. The firm specializes in tax-managed equity and fixed-income investments and is the third- largest issuer of closed-end funds. Investment advisory services are primarily provided to high-net-worth clients, institutional separate accounts, and retail managed accounts, with most products distributed through financial intermediaries in the advisory channel. The company had $437 billion in assets under management at the end of March, composed of equity (26% of AUM), fixed-income (14%), floating-rate bank loan (6%), alternative asset (2%), and money market funds, as well as assets managed under its implementation services (33%) and exposure management (19%) platforms.See more from Benzinga * Frontline: Q1 Earnings Insights * Royal Caribbean Cruises: Q1 Earnings Insights * Recap: RBC Bearings Q4 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

The Eaton Vance closed-end funds listed below released today the estimated sources of their April distributions (each a "Fund"). This press release is issued as required by the Funds' managed distribution plan (Plan) and an exemptive order received from the U.S. Securities and Exchange Commission. The Board of Trustees has approved the implementation of the Plan to make monthly, as noted below, cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the April distribution. It is not determinative of the tax character of a Fund's distributions for the 2020 calendar year. Shareholders should note that each Fund's total regular distribution amount is subject to change as a result of market conditions or other factors.

(Bloomberg Opinion) -- Airbnb Inc. is raising a war chest to get it through the coronavirus pandemic.Last week, the home-sharing company announced a $1 billion debt and equity deal from Silver Lake and Sixth Street Partners, with the second-lien securities reportedly offering an 11% to 12% interest rate. It turns out Airbnb was only getting started: This week, it secured commitments for a $1 billion syndicated loan from a group of more than 20 investors, including Silver Lake and more traditional money mangers like BlackRock Inc., Eaton Vance Corp., Fidelity Investments and T. Rowe Price Group Inc. According to people with knowledge of the situation, the funds could help Airbnb make it through this economic downturn without going public and might open the door to acquisitions.“All of the actions we have taken over the last several weeks assure that Airbnb will emerge from the storm of the pandemic even stronger, regardless of how long the storm lasts,” Brian Chesky, Airbnb’s chief executive officer and co-founder, said this week. On March 30, Airbnb announced that it was pledging $250 million to help support hosts impacted by cancellations. “We know a lot of people are facing serious hardships right now, and we’re working around the clock to help you. Our $250 million USD support will come entirely from Airbnb at no cost to the guest, and we hope you’ll accept it as a show of commitment to our hosts.”This backstop apparently divided the Airbnb community. In a March 31 article, Curbed quoted the woman who runs AirHostsForum as saying “the hosts who were more experienced felt Airbnb had no obligations to hosts,” while newer ones thought the company “needed to do something to rectify the situation.” Airbnb is the most prominent company that exists squarely in the cross-section of the travel industry and the mortgage market, two areas particularly targeted by the coronavirus outbreak and the ensuing economic shutdown. Without question, the company-specific carnage is bad enough: The Information reported that Airbnb projects revenue will drop to $2.2 billion this year from $4.8 billion in 2019. Airbnb’s valuation is likely closer to $18 billion, from $31 billion in 2017. The company’s board is intensifying pressure on Chesky to cut costs. The question that’s difficult to quantify is just how much damage a collapse in the Airbnb economy could cause to the $16 trillion U.S. mortgage market.The anecdotes on social media immediately spread like wildfire. Many centered on the idea that so-called “superhosts” — those who consistently meet certain thresholds including near-perfect ratings, a large number of bookings and infrequent cancellations — have taken out mortgages on several properties, banking on Airbnb income to cover those payments. Now with little to no cash flow, they’ll soon default on those mortgages, the thinking goes. In large enough numbers, that would bring about a reckoning.This is a compelling narrative. After all, a quick online search reveals articles such as “HOW TO MAKE MONEY WITH AIRBNB (OVER $10,000 PER MONTH!),” which comes from a millennial Ohio State graduate who lives in Los Angeles and manages nine listings in Columbus. It includes advice such as “by leveraging your debt capacity, you will be able to effectively invest more money than you would otherwise be able to.” If newer hosts were the ones clamoring for Airbnb to offer support, maybe they’re the most overleveraged.Backing up these anecdotes with any sort of hard data is the tricky part. My Bloomberg News colleague Christopher Maloney suggested I focus on trends specifically in investment property loans, which tend to have higher interest rates and larger down payments than traditional owner-occupied residences. In theory, a surge in investment properties could at least partially indicate some speculative activity in the market. More specifically, any uptick in single-family investment property loans could represent Airbnb superhosts, as opposed to multi-family loans, which are more strictly the domain of traditional landlords.Data compiled by FHN Financial and CPRCDR paint a mixed picture. At the very least, it casts cold water on the idea of rampant speculation the likes of which could topple the entire housing market.It’s true that the unpaid principal balance on 30-year mortgages for investor property has increased over the years. It doubled from 2003 to 2008 before plateauing in the wake of the 2008 financial crisis at about $150 billion. It then picked up during the economic expansion, reaching almost $250 billion most recently, though it never quite grew at the same pace as during the housing bubble. However, investor property loans as a percentage of all 30-year mortgages have declined in the past four years, to less than 7%. From 2011 to 2014, the share climbed from 5% to almost 8%. That roughly coincides with a huge jump in the number of guest stays through Airbnb as well as new hosts: A TechCrunch article from December 2013 declared “this is what hockey-stick growth looks like” in describing the company’s trajectory. It’s not a perfect correlation — Airbnb certainly kept growing in the following years, while the investor property share stagnated — but it’s not bad. Still, the fact that the uptick didn’t last through the expansion raises doubt about the prevalence of spread-thin superhosts.Again, it’s difficult, if not impossible, to track down data that pinpoints mortgages taken out with the intent to list the property for short-term rental. This data, though classified as single-family investor property, includes two-, three- and four-family housing. The overwhelming majority of single-family mortgages are in fact for one family, but it’s possible investor properties skew toward more than one. And, of course, this is not to minimize the potential financial stress on hosts who were counting on the extra income from renting a room or a guest house to pay the mortgage on their primary residences.Yet even if we assume the supposed worst-case scenario of thousands of superhosts with dozens of properties suddenly unable to pay those mortgages, it’s ultimately just a drop in the bucket. Data from the Consumer Financial Protection Bureau show more than 4 million mortgage loans were originated in 2017 for a purchase of a one- to four-family dwelling, either owner-occupied or not. Thus, Airbnb’s own package might go a ways to bridge its hosts’ lost revenue.And, if we’re being honest like my Bloomberg Opinion colleague Lionel Laurent, dialing back the Airbnb economy might not be so terrible. The demand boost has helped exacerbate housing shortages in large global cities and inflated real-estate prices across those metropolises. It’s a vastly different situation from extending subprime mortgages to virtually any American living anywhere and creating complex derivatives tied to those loans. Generally, those who take out investment property loans have strong credit: J.P. Morgan Mortgage Trust closed a transaction backed entirely by investment property loans earlier this year, and the average FICO score was 761.It’s an open question whether Airbnb will successfully bounce back from the coronavirus pandemic, or whether these months of sheltering-in-place will forever change people’s behavior. But there’s simply not much that indicates investment properties will quickly push the mortgage market into the abyss. Open the economy again in a safe and sustainable manner, and the payments will most likely sort themselves out.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Eaton Vance Floating-Rate Income Plus Fund (the "Fund") announced that Institutional Shareholder Services Inc. ("ISS") and Glass Lewis & Co. ("Glass Lewis"), two leading independent proxy advisory firms, have each recommended that Fund shareholders vote FOR the election of the Board's recommended nominees, Thomas E. Faust Jr., Cynthia E. Frost and Scott E. Wennerholm, as listed on the WHITE proxy card in connection with the Annual Meeting of Shareholders scheduled for 1:00 p.m. Eastern Time on April 16, 2020.

(Bloomberg) -- Home-sharing leader Airbnb Inc. lined up $1 billion in debt, adding to last week’s same-size haul and boosting a financial cushion it can use to grow and pay bills as the global coronavirus pandemic crushes demand for travel and diminishes the prospect of an initial public offering.Airbnb is raising cash by issuing first-lien debt, which has priority on the company’s assets in case of a default, and it comes from a group of more than 20 investors, including Silver Lake, the largest participant, according to people with knowledge of the matter. Other investors are BlackRock Inc., Eaton Vance Corp., Fidelity Investments and T. Rowe Price Group Inc., said the people, who asked not to be identified discussing a private deal.The company confirmed in a statement it had secured commitments for a $1 billion syndicated loan but didn’t name investors or elaborate on details.San Francisco-based Airbnb, which makes money from homeowners who rent residences to travelers, had been planning to go public some time this year, but the outbreak of Covid-19 has sent markets into a tailspin and made an IPO less likely. People around the world have put travel plans on hold as governments issue shelter-in-place edicts to stop the contagion, slowing sales growth and crimping profit at Airbnb. The additional funds could help the company weather the economic crisis and even make acquisitions without going public.“I deeply appreciate the confidence and trust that so many have shown in our company even as every sector in travel is going through the storm of the pandemic,” Brian Chesky, Airbnb’s chief executive officer and co-founder, said in the statement. “All of the actions we have taken over the last several weeks assure that Airbnb will emerge from the storm of the pandemic even stronger, regardless of how long the storm lasts.”The list of participants includes Apollo Global Management Inc., Benefit Street Partners, Blackstone Group Inc., Glade Brook Capital Partners, Oaktree Capital and Owl Rock Capital, the people said.The deal builds on last week’s investment of the same size from Silver Lake and Sixth Street Partners, which is also participating in the new debt, said the people, who asked not to be identified because the deal isn’t public. Representatives for the other companies involved either declined to comment or didn’t immediately respond to requests.The five-year loan priced at a spread of 7.5 percentage points over the benchmark London interbank offered rate and at a discount of 97.5 cents on the dollar, the people said. Terms tightened from a rate of 8 percentage points over Libor and a discount of 96 cents on the dollar, the person said. Investor demand for the deal exceeded $2.5 billion.The new debt is senior to the company’s borrowing from Silver Lake and Sixth Street that it unveiled earlier this month, which is composed of second-lien debt and equity securities. The warrants valued the company at $18 billion, a fraction of its $31 billion peak. The new transaction doesn’t include warrants or other equity components, a person familiar with the deal said.(Updates with company confirmation from third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

The Board of Directors of Eaton Vance Corp. (NYSE: EV) today declared a quarterly dividend of $0.375 per share on its common stock. The dividend is payable May 15, 2020, to shareholders of record on April 30, 2020.

Eaton Vance (EV) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Investors who follow environmental, social and governance criteria say a company’s behavior during the crisis will dictate its reputation as an employer for years to come.