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 811-21348

 

Name of Fund: BlackRock Muni Intermediate Duration Fund, Inc. (MUI)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Muni Intermediate Duration Fund, Inc., 55 East 52nd Street, New York, NY 10055

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 04/30/2012

 

Date of reporting period: 01/31/2012

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments January 31, 2012 (Unaudited)

BlackRock Muni Intermediate Duration Fund, Inc. (MUI)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 2.6%

 

 

 

 

 

 

 

Birmingham Special Care Facilities
Financing Authority, RB, Children’s
Hospital (AGC), 6.00%, 6/01/34

 

$

4,615

 

$

5,326,264

 

County of Jefferson Alabama, RB,
Series A:

 

 

 

 

 

 

 

5.50%, 1/01/21

 

 

5,500

 

 

5,087,665

 

5.25%, 1/01/23

 

 

6,500

 

 

5,935,540

 

 

 

 

 

 

 

16,349,469

 

Arizona — 4.8%

 

 

 

 

 

 

 

City of Tucson Arizona, COP (AGC):

 

 

 

 

 

 

 

4.25%, 7/01/21

 

 

1,870

 

 

2,112,539

 

4.25%, 7/01/22

 

 

1,895

 

 

2,116,166

 

Refunding, 4.00%, 7/01/20

 

 

2,325

 

 

2,651,616

 

Maricopa County IDA Arizona, RB,
Arizona Charter Schools Project,
Series A, 6.63%, 7/01/20

 

 

2,200

 

 

1,746,602

 

Northern Arizona University, RB, 5.00%,
6/01/41

 

 

1,250

 

 

1,342,475

 

Pima County IDA Arizona, RB, Charter
Schools Project:

 

 

 

 

 

 

 

Series C, 6.70%, 7/01/21

 

 

960

 

 

962,064

 

Series K, 6.38%, 7/01/31

 

 

930

 

 

903,755

 

Pima County IDA Arizona, Refunding RB,
Tucson Electric Power Co., San Juan,
Series A, 4.95%, 10/01/20

 

 

2,325

 

 

2,460,850

 

Pinal County Electric District No 3,
Refunding RB, 5.00%, 7/01/25

 

 

1,600

 

 

1,799,952

 

Salt River Project Agricultural
Improvement & Power District, RB,
Series A, 5.00%, 1/01/25

 

 

4,000

 

 

4,673,560

 

Scottsdale IDA, RB, Scottsdale
Healthcare, Series C (AGM), 5.00%,
9/01/35

 

 

3,650

 

 

3,937,620

 

State of Arizona, COP, Department of
Administration, Series A (AGM),
4.25%, 10/01/23

 

 

1,000

 

 

1,089,300

 

University of Arizona, RB, Speed, 5.00%,
8/01/28

 

 

3,630

 

 

4,139,289

 

 

 

 

 

 

 

29,935,788

 

California — 8.1%

 

 

 

 

 

 

 

California Health Facilities Financing
Authority, Refunding RB, Sutter
Health, Series B, 5.00%, 8/15/22

 

 

2,135

 

 

2,546,542

 

California HFA, RB, Home Mortgage,
Series K, AMT, 4.55%, 8/01/21

 

 

1,000

 

 

984,850

 

California HFA, Refunding RB, Home
Mortgage, Series M, AMT, 4.55%,
8/01/21

 

 

5,490

 

 

5,406,826

 

California Pollution Control Financing
Authority, RB, AMT:

 

 

 

 

 

 

 

Republic Services Inc. Project,
Series B, Mandatory Put
Bonds, 5.25%, 6/01/23 (a)

 

 

605

 

 

681,811

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

California Pollution Control Financing
Authority, RB, AMT (concluded):

 

 

 

 

 

 

 

Waste Management Inc.
Project, Series A-2, 5.40%,
4/01/25

 

$

1,240

 

$

1,288,100

 

California Pollution Control Financing
Authority, Refunding RB, Pacific Gas,
Series C, AMT (FGIC), 4.75%,
12/01/23

 

 

5,000

 

 

5,267,350

 

City of Sacramento California, Special
Tax Bonds, North Natomas
Community Facilities, Series 4-C,
6.00%, 9/01/28

 

 

2,990

 

 

3,066,335

 

City of San Jose California, ARB,
Series A-1, AMT, 5.00%, 3/01/25

 

 

3,000

 

 

3,221,310

 

Golden State Tobacco Securitization
Corp. California, Refunding RB, Asset-
Backed, Senior Series A-1, 5.00%,
6/01/15

 

 

5,000

 

 

5,264,400

 

Los Angeles Regional Airports
Improvement Corp. California,
Refunding RB, Facilities, LAXFUEL
Corp., LA International, AMT (AMBAC),
5.50%, 1/01/32

 

 

1,435

 

 

1,435,789

 

State of California, GO:

 

 

 

 

 

 

 

5.50%, 4/01/14 (b)

 

 

5,000

 

 

5,555,300

 

5.50%, 4/01/28

 

 

15

 

 

16,012

 

Various Purpose, 5.75%,
4/01/31

 

 

7,000

 

 

8,071,770

 

Various Purpose, 5.00%,
11/01/32

 

 

2,000

 

 

2,142,000

 

Tamalpais Union High School District,
GO, Election of 2001 (AGM), 5.00%,
8/01/13 (b)

 

 

4,875

 

 

5,219,419

 

 

 

 

 

 

 

50,167,814

 

Colorado — 1.0%

 

 

 

 

 

 

 

Plaza Metropolitan District No. 1
Colorado, Tax Allocation Bonds, Public
Improvement Fee, Tax Increment,
7.50%, 12/01/15

 

 

6,000

 

 

6,206,460

 

Connecticut — 0.5%

 

 

 

 

 

 

 

Connecticut State Development
Authority, RB, Learjet Inc. Project,
AMT, 7.95%, 4/01/26

 

 

1,160

 

 

1,227,825

 

Connecticut State Health & Educational
Facility Authority, RB, Lawrence &
Memorial Hospital, Series F, 5.00%,
7/01/31

 

 

1,780

 

 

1,921,368

 

 

 

 

 

 

 

3,149,193

 

Delaware — 0.9%

 

 

 

 

 

 

 

Delaware State Municipal Electric Corp.,
RB, 5.00%, 7/01/37

 

 

5,000

 

 

5,421,650

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNI INTERMEDIATE DURATION FUND, INC.

JANUARY 31, 2012

1


 

 

 

 

Schedule of Investments (continued)

BlackRock Muni Intermediate Duration Fund, Inc. (MUI)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Florida — 6.6%

 

 

 

 

 

 

 

Broward County School Board Florida,
COP, Series A (AGM), 5.00%, 7/01/24

 

$

10,000

 

$

11,322,900

 

County of Lee Florida, Refunding ARB,
Series A, AMT:

 

 

 

 

 

 

 

5.50%, 10/01/23

 

 

1,000

 

 

1,137,520

 

(AGM), 5.00%, 10/01/27

 

 

1,635

 

 

1,783,621

 

County of Miami-Dade Florida,
Refunding RB, Series C (BHAC),
5.00%, 10/01/23

 

 

8,000

 

 

9,199,680

 

Greater Orlando Aviation Authority
Airport Facilities, Refunding RB,
Series B, AMT:

 

 

 

 

 

 

 

5.00%, 10/01/25

 

 

1,000

 

 

1,121,460

 

5.00%, 10/01/26

 

 

2,935

 

 

3,250,630

 

Highlands County Health Facilities
Authority, Refunding RB, Adventist
Health, Series G, 5.13%,
11/15/16 (b)

 

 

35

 

 

42,149

 

Lee County, Refunding RB, Series A,
AMT, 5.63%, 10/01/26

 

 

500

 

 

555,225

 

Midtown Miami Community
Development District, Special
Assessment Bonds:

 

 

 

 

 

 

 

Series A, 6.00%, 5/01/24

 

 

3,040

 

 

3,072,741

 

Series B, 6.50%, 5/01/37

 

 

1,900

 

 

1,924,263

 

Portofino Shores Community
Development District, Special
Assessment Bonds, Series A, 6.40%,
5/01/34

 

 

1,085

 

 

1,093,203

 

South Lake County Hospital District, RB,
South Lake Hospital Inc., 6.63%,
10/01/23

 

 

2,390

 

 

2,485,002

 

Sterling Hill Community Development
District, Special Assessment Bonds,
Refunding, Series B, 5.50%,
11/01/10 (c)(d)

 

 

160

 

 

112,082

 

University of Florida Research
Foundation Inc., RB (AMBAC), 5.13%,
9/01/33

 

 

4,000

 

 

3,999,880

 

 

 

 

 

 

 

41,100,356

 

Georgia — 1.1%

 

 

 

 

 

 

 

Fulton County Development Authority,
Refunding RB, Robert Woodruff,
Series B, 5.25%, 3/15/24

 

 

3,000

 

 

3,299,310

 

Medical Center Hospital Authority,
Refunding RB, Columbus Regional
Healthcare (AGM):

 

 

 

 

 

 

 

4.00%, 8/01/23

 

 

1,500

 

 

1,591,905

 

4.13%, 8/01/24

 

 

2,000

 

 

2,121,580

 

 

 

 

 

 

 

7,012,795

 

Guam — 0.7%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A, 6.00%,
11/15/19

 

 

1,530

 

 

1,683,490

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Guam (concluded)

 

 

 

 

 

 

 

Territory of Guam, RB, Section 30,
Series A, 5.38%, 12/01/24

 

$

2,620

 

$

2,828,421

 

 

 

 

 

 

 

4,511,911

 

Hawaii — 0.9%

 

 

 

 

 

 

 

State of Hawaii, ARB, Series A, 5.25%,
7/01/29

 

 

5,000

 

 

5,656,350

 

Idaho — 0.6%

 

 

 

 

 

 

 

Idaho Health Facilities Authority, RB, St.
Luke’s Regional Medical Center
(AGM), 4.63%, 7/01/30

 

 

3,700

 

 

3,964,846

 

Illinois — 7.5%

 

 

 

 

 

 

 

Chicago Transit Authority, RB, 5.25%,
12/01/31

 

 

2,000

 

 

2,288,980

 

City of Chicago Illinois, ARB, AMT (AGM),
5.75%, 1/01/23

 

 

8,130

 

 

8,604,060

 

Du Page & Will Counties Community
School District No. 204 Indian, GO,
School Building, Series A (NPFGC),
5.25%, 12/30/22

 

 

8,650

 

 

9,956,669

 

Railsplitter Tobacco Settlement
Authority, RB:

 

 

 

 

 

 

 

5.50%, 6/01/23

 

 

3,500

 

 

3,993,220

 

6.25%, 6/01/24

 

 

12,750

 

 

14,267,378

 

Village of Hodgkins Illinois, RB, MBM
Project, AMT, 5.90%, 11/01/17

 

 

6,000

 

 

6,005,280

 

Village of Wheeling Illinois, Tax
Allocation Bonds, North
Milwaukee/Lake-Cook TIF Project,
6.00%, 1/01/25

 

 

1,480

 

 

1,441,061

 

 

 

 

 

 

 

46,556,648

 

Indiana — 4.0%

 

 

 

 

 

 

 

City of Whiting Indiana, RB, BP Products
North America, 5.25%, 1/01/21

 

 

4,800

 

 

5,738,880

 

County of Jasper Indiana, Refunding RB,
Northern Indiana Public Service Co.,
Series C (NPFGC), 5.85%, 4/01/19

 

 

2,000

 

 

2,363,320

 

Indiana Finance Authority, Refunding
RB, Environmental Improvement,
United Steel Corp. Project, 6.00%,
12/01/19

 

 

5,000

 

 

5,183,650

 

Indiana Finance Authority Wastewater
Utility, RB, 5.25%, 10/01/31

 

 

10,000

 

 

11,539,600

 

 

 

 

 

 

 

24,825,450

 

Iowa — 1.0%

 

 

 

 

 

 

 

Iowa Higher Education Loan Authority,
RB, Private College Facility:

 

 

 

 

 

 

 

5.25%, 4/01/23

 

 

695

 

 

826,536

 

5.25%, 4/01/24

 

 

730

 

 

860,750

 

5.25%, 4/01/25

 

 

520

 

 

610,771

 

5.25%, 4/01/26

 

 

360

 

 

417,903

 

Iowa Higher Education Loan Authority,
Refunding RB, Private College Facility:

 

 

 

 

 

 

 

5.00%, 9/01/20

 

 

1,000

 

 

1,111,140

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNI INTERMEDIATE DURATION FUND, INC.

JANUARY 31, 2012

2


 

 

 

 

Schedule of Investments (continued)

BlackRock Muni Intermediate Duration Fund, Inc. (MUI)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Iowa (concluded)

 

 

 

 

 

 

 

Iowa Higher Education Loan Authority,
Refunding RB, Private College Facility
(concluded):

 

 

 

 

 

 

 

5.00%, 9/01/22

 

$

2,315

 

$

2,502,677

 

 

 

 

 

 

 

6,329,777

 

Kansas — 2.7%

 

 

 

 

 

 

 

City of Dodge City Kansas, RB (AGC),
4.00%, 6/01/24

 

 

2,245

 

 

2,468,512

 

Kansas Development Finance Authority,
RB, KU Health System, Series H:

 

 

 

 

 

 

 

5.00%, 3/01/26

 

 

3,220

 

 

3,521,134

 

5.00%, 3/01/27

 

 

3,905

 

 

4,248,211

 

Kansas Development Finance Authority,
Refunding RB:

 

 

 

 

 

 

 

Adventist Health, 5.00%,
11/15/23

 

 

1,500

 

 

1,747,695

 

Adventist/Sunbelt, Series D,
5.00%, 11/15/24

 

 

1,000

 

 

1,119,610

 

Sisters of Leavenworth,
Series A, 4.00%, 1/01/22

 

 

3,425

 

 

3,776,337

 

 

 

 

 

 

 

16,881,499

 

Kentucky — 3.0%

 

 

 

 

 

 

 

Kentucky Economic Development
Finance Authority, Refunding RB,
Owensboro Medical Health System,
Series A, 5.25%, 6/01/23

 

 

8,650

 

 

9,357,743

 

Kentucky State Property & Buildings
Commission, Refunding RB, Project
No. 93 (AGC), 5.25%, 2/01/24

 

 

8,000

 

 

9,413,760

 

 

 

 

 

 

 

18,771,503

 

Louisiana — 2.5%

 

 

 

 

 

 

 

Jefferson Parish Hospital Service District
No 1, Refunding RB, West Jefferson
Medical Center, Series A (AGM),
5.50%, 1/01/26

 

 

3,000

 

 

3,320,370

 

Louisiana Public Facilities Authority, RB,
Nineteenth Judicial District Court
(NPFGC), 5.50%, 6/01/41

 

 

2,000

 

 

2,159,620

 

Louisiana Public Facilities Authority,
Refunding RB, Entergy Gulf States
Louisiana, LLC Project, Series A,
5.00%, 9/01/28

 

 

5,000

 

 

5,257,250

 

New Orleans Aviation Board Louisiana,
Refunding GARB, Restructuring,
Series A-2 (AGC), 6.00%, 1/01/23

 

 

850

 

 

1,022,898

 

Port of New Orleans Louisiana,
Refunding RB, Continental Grain Co.
Project, 6.50%, 1/01/17

 

 

3,500

 

 

3,510,395

 

 

 

 

 

 

 

15,270,533

 

Maine — 0.3%

 

 

 

 

 

 

 

Portland New Public Housing Authority
Maine, Refunding RB, Senior Living,
Series A, 6.00%, 2/01/34

 

 

1,965

 

 

1,992,117

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Maryland — 0.5%

 

 

 

 

 

 

 

Maryland EDC, RB, Transportation
Facilities Project, Series A, 5.13%,
6/01/20

 

$

1,750

 

$

1,816,080

 

Maryland EDC, Refunding RB, CNX
Marine Terminals Inc., 5.75%,
9/01/25

 

 

790

 

 

818,851

 

Maryland Industrial Development
Financing Authority, RB, Our Lady of
Good Counsel School, Series A,
6.00%, 5/01/35

 

 

500

 

 

508,785

 

 

 

 

 

 

 

3,143,716

 

Massachusetts — 0.7%

 

 

 

 

 

 

 

Massachusetts Development Finance
Agency, RB, Ogden Haverhill Project,
Series B, AMT:

 

 

 

 

 

 

 

5.35%, 12/01/15

 

 

1,210

 

 

1,211,452

 

5.50%, 12/01/19

 

 

2,000

 

 

2,002,380

 

Massachusetts Health & Educational
Facilities Authority, RB, Winchester
Hospital, 5.00%, 7/01/25

 

 

1,060

 

 

1,130,013

 

 

 

 

 

 

 

4,343,845

 

Michigan — 4.0%

 

 

 

 

 

 

 

City of Detroit Michigan, Refunding RB,
Second Lien, Series C (BHAC), 5.75%,
7/01/26

 

 

4,235

 

 

4,915,437

 

Manistee Area Public Schools, GO,
Refunding (Q-SBLF), 5.00%, 5/01/25

 

 

1,000

 

 

1,138,540

 

Michigan State Building Authority,
Refunding RB, Facilities Program,
Series A, 5.00%, 10/15/24

 

 

2,500

 

 

2,956,800

 

Michigan State Hospital Finance
Authority, Refunding RB, Henry Ford
Health, 5.25%, 11/15/24

 

 

4,900

 

 

5,460,119

 

 

 

 

 

 

 

 

 

State of Michigan Trunk Line Revenue,
RB, Fund, 5.00%, 11/15/31

 

 

2,000

 

 

2,314,980

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wayne County Airport Authority, RB,
Detroit Metropolitan Wayne County
Airport, AMT (AGC), 4.75%, 12/01/18

 

 

7,665

 

 

8,170,507

 

 

 

 

 

 

 

24,956,383

 

Minnesota — 1.2%

 

 

 

 

 

 

 

City of St. Cloud Minnesota, RB,
Centracare Health System, Series A,
4.25%, 5/01/21

 

 

2,300

 

 

2,573,562

 

Minnesota State Municipal Power
Agency, RB, Series A, 5.25%,
10/01/24

 

 

2,000

 

 

2,174,340

 

University of Minnesota, RB, Biomedical
Science Research Facilities Funding
Program, Series B, 5.00%, 8/01/36

 

 

2,500

 

 

2,805,150

 

 

 

 

 

 

 

7,553,052

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNI INTERMEDIATE DURATION FUND, INC.

JANUARY 31, 2012

3


 

 

 

 

Schedule of Investments (continued)

BlackRock Muni Intermediate Duration Fund, Inc. (MUI)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Mississippi — 1.5%

 

 

 

 

 

 

 

Mississippi Business Finance Corp.,
Refunding RB, System Energy
Resource Inc. Project:

 

 

 

 

 

 

 

5.88%, 4/01/22

 

$

5,000

 

$

5,017,500

 

5.90%, 5/01/22

 

 

4,410

 

 

4,425,435

 

 

 

 

 

 

 

9,442,935

 

Missouri — 2.2%

 

 

 

 

 

 

 

Missouri Development Finance Board,
RB, St. Joseph Sewage System
Improvements, Series E, 4.75%,
5/01/26

 

 

750

 

 

786,997

 

Missouri State Environmental
Improvement & Energy Resources
Authority, Refunding RB, Revolving
Funds Program, Series A, 5.00%,
1/01/25

 

 

3,150

 

 

3,973,536

 

Missouri State Health & Educational
Facilities Authority, RB, SSM Health
Care, Series B, 4.25%, 6/01/25

 

 

8,125

 

 

8,831,144

 

 

 

 

 

 

 

13,591,677

 

Montana — 0.5%

 

 

 

 

 

 

 

Montana Facility Finance Authority,
Refunding RB, Series B, 5.00%,
1/01/24

 

 

2,625

 

 

3,022,399

 

Nebraska — 0.9%

 

 

 

 

 

 

 

Douglas County School District No. 17
Nebraska, GO, Refunding, 2.00%,
6/15/25

 

 

4,380

 

 

4,255,082

 

Lancaster County Hospital Authority No.
1, RB, Immanuel Obligation Group,
5.50%, 1/01/30

 

 

1,000

 

 

1,088,150

 

 

 

 

 

 

 

5,343,232

 

Nevada — 1.0%

 

 

 

 

 

 

 

County of Clark Nevada, Special
Assessment Bonds, Special
Improvement District No. 142, Local
Improvement, 6.38%, 8/01/23

 

 

2,060

 

 

2,132,244

 

County of Humboldt Nevada, Refunding
RB, Idaho Power Co. Project, 5.15%,
12/01/24

 

 

3,800

 

 

4,304,488

 

 

 

 

 

 

 

6,436,732

 

New Jersey — 16.9%

 

 

 

 

 

 

 

Essex County Improvement Authority,
RB, Newark Project, Series A (AGM),
5.00%, 11/01/20

 

 

2,000

 

 

2,303,740

 

Garden State Preservation Trust, RB,
Election of 2005, Series A (AGM):

 

 

 

 

 

 

 

5.80%, 11/01/21

 

 

3,635

 

 

4,243,790

 

5.80%, 11/01/23

 

 

5,050

 

 

5,930,316

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

Cigarette Tax, 5.75%,
6/15/29

 

 

8,310

 

 

8,683,451

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (concluded)

 

 

 

 

 

 

 

New Jersey EDA, RB (concluded):

 

 

 

 

 

 

 

Continental Airlines Inc.
Project, AMT, 6.63%,
9/15/12

 

$

5,540

 

$

5,638,390

 

Motor Vehicle Surcharge, Series A
(NPFGC), 5.25%, 7/01/33

 

 

17,900

 

 

19,204,015

 

New Jersey EDA, Refunding RB:

 

 

 

 

 

 

 

New Jersey American Water
Co., Series E, AMT, 4.70%,
12/01/25

 

 

3,000

 

 

3,304,440

 

School Facilities Construction,
Series AA, 4.25%, 12/15/24

 

 

3,850

 

 

4,187,837

 

School Facilities Construction,
Series EE, 5.00%, 9/01/23

 

 

3,465

 

 

4,084,750

 

New Jersey Health Care Facilities
Financing Authority, Refunding RB,
Hackensack University Medical,
Series B (AGM), 4.00%, 1/01/24

 

 

635

 

 

678,053

 

New Jersey Higher Education Assistance
Authority, RB, Series 1, AMT:

 

 

 

 

 

 

 

5.50%, 12/01/26

 

 

1,665

 

 

1,813,152

 

5.00%, 12/01/27

 

 

12,000

 

 

12,701,160

 

New Jersey Higher Education Assistance
Authority, Refunding RB, 4.75%,
12/01/21

 

 

2,400

 

 

2,672,736

 

New Jersey State Housing & Mortgage
Finance Agency, RB, S/F Housing,
Series X, AMT, 5.10%, 10/01/23

 

 

4,500

 

 

4,697,460

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System:

 

 

 

 

 

 

 

CAB, Series C (AMBAC), 5.73%,
12/15/25 (e)

 

 

9,450

 

 

5,426,568

 

Series A, 5.25%, 6/15/24

 

 

3,185

 

 

3,836,460

 

Series B, 5.50%, 6/15/31

 

 

10,000

 

 

11,831,500

 

South Jersey Port Corp., RB, Marine
Terminal, Series O-1 (AGC), 4.63%,
1/01/23

 

 

1,375

 

 

1,546,490

 

State of New Jersey, GO, Refunding,
5.25%, 8/01/21

 

 

1,355

 

 

1,742,273

 

 

 

 

 

 

 

104,526,581

 

New York — 20.9%

 

 

 

 

 

 

 

City of New York, New York, GO:

 

 

 

 

 

 

 

Refunding, Series E, 5.00%,
8/01/27

 

 

3,500

 

 

4,080,195

 

Series D1, 5.13%, 12/01/26

 

 

4,615

 

 

5,512,341

 

Sub-Series I-1, 5.50%,
4/01/21

 

 

5,000

 

 

6,253,800

 

Essex County Industrial Development
Agency, Refunding RB, International
Paper, Series A, AMT, 5.20%,
12/01/23

 

 

6,300

 

 

6,401,871

 

Hudson New York Yards Infrastructure
Corp., RB, 5.75%, 2/15/47

 

 

4,250

 

 

4,802,542

 

Long Island Power Authority, Refunding
RB, Series A, 5.50%, 4/01/24

 

 

1,475

 

 

1,756,179

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNI INTERMEDIATE DURATION FUND, INC.

JANUARY 31, 2012

4


 

 

 

 

Schedule of Investments (continued)

BlackRock Muni Intermediate Duration Fund, Inc. (MUI)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

Metropolitan Transportation Authority,
RB:

 

 

 

 

 

 

 

Sub-Series B-1, 5.00%,
11/15/24

 

$

2,300

 

$

2,817,730

 

Sub-Series B-4, 5.00%,
11/15/24

 

 

1,500

 

 

1,831,800

 

Transportation, Series A,
5.00%, 11/15/25

 

 

1,980

 

 

2,255,359

 

Metropolitan Transportation Authority,
Refunding RB, Series B, 5.25%,
11/15/25

 

 

4,000

 

 

4,721,560

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

 

Continental Airlines Inc.
Project, Mandatory Put
Bonds, AMT, 8.38%,
11/01/16

 

 

3,500

 

 

3,539,550

 

Special Needs Facilities
Pooled Program, Series C-1,
6.80%, 7/01/19

 

 

1,770

 

 

1,794,214

 

New York City Industrial Development
Agency, Refunding RB, New York
Stock Exchange Project, Series A,
4.25%, 5/01/24

 

 

1,740

 

 

1,901,698

 

New York City Transitional Finance
Authority, RB:

 

 

 

 

 

 

 

Fiscal 2007, Series S-1 (NPFGC),
5.00%, 7/15/24

 

 

500

 

 

565,085

 

Fiscal 2009, Series S-3,
5.00%, 1/15/23

 

 

3,560

 

 

4,206,389

 

New York City Trust for Cultural
Resources, RB, Carnegie Hall,
Series A, 5.00%, 12/01/29

 

 

3,750

 

 

4,186,725

 

New York Liberty Development Corp.,
Refunding RB, Second Priority, Bank
of America Tower at One Bryant Park
Project, 5.63%, 7/15/47

 

 

3,000

 

 

3,176,220

 

New York State Dormitory Authority,
LRB, Municipal Health Facilities,
Sub-Series 2-4, 5.00%, 1/15/27

 

 

6,900

 

 

7,587,792

 

New York State Dormitory Authority, RB:

 

 

 

 

 

 

 

Education, Series D, 5.00%,
3/15/31

 

 

4,500

 

 

5,078,250

 

Fordham University, Series A,
5.25%, 7/01/25

 

 

900

 

 

1,080,153

 

Mental Health Services
Facilities Improvement,
Series A (AGM), 5.00%,
2/15/22

 

 

4,000

 

 

4,662,960

 

Mount Sinai School of
Medicine, Series A (NPFGC),
5.15%, 7/01/24

 

 

1,000

 

 

1,125,270

 

North Shore-Long Island
Jewish Health System,
Series A, 5.50%, 5/01/30

 

 

1,495

 

 

1,674,744

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

New York State Dormitory Authority, RB
(concluded):

 

 

 

 

 

 

 

NYU Hospital Center, Series A,
5.00%, 7/01/22

 

$

1,725

 

$

1,912,180

 

NYU Hospital Center, Series A,
5.13%, 7/01/23

 

 

1,670

 

 

1,840,073

 

University of Rochester,
Series C, 4.00%, 7/01/24

 

 

625

 

 

675,775

 

New York State Dormitory Authority,
Refunding RB:

 

 

 

 

 

 

 

Mount Sinai Hospital, Series A,
4.25%, 7/01/23

 

 

2,225

 

 

2,376,656

 

North Shore-Long Island
Jewish Health System,
Series E, 5.00%, 5/01/22

 

 

650

 

 

748,462

 

North Shore-Long Island
Jewish Health System,
Series E, 5.00%, 5/01/23

 

 

2,160

 

 

2,443,111

 

Yeshiva University, 4.00%,
9/01/23

 

 

2,860

 

 

3,040,666

 

Yeshiva University, 4.25%,
9/01/24

 

 

2,750

 

 

2,949,320

 

New York State Urban Development
Corp., Refunding RB, Service Contract,
Series B, 5.00%, 1/01/21

 

 

8,000

 

 

9,343,920

 

Port Authority of New York & New Jersey,
RB, JFK International Air Terminal,
5.00%, 12/01/20

 

 

2,475

 

 

2,579,445

 

Port Authority of New York & New Jersey,
Refunding RB, Consolidated:

 

 

 

 

 

 

 

152nd Series, AMT, 5.00%,
11/01/23

 

 

1,000

 

 

1,136,350

 

153rd Series, 5.00%,
7/15/24

 

 

2,010

 

 

2,317,148

 

Sales Tax Asset Receivable Corp., RB,
Series A (NPFGC), 5.00%, 10/15/20

 

 

7,070

 

 

7,850,811

 

United Nations Development Corp. New
York, Refunding RB, Series A, 4.25%,
7/01/24

 

 

2,985

 

 

3,299,320

 

Westchester County New York Health
Care Corp., RB, Senior Lien, Series A,
5.00%, 11/01/24

 

 

5,470

 

 

6,068,582

 

 

 

 

 

 

 

129,594,246

 

North Carolina — 1.8%

 

 

 

 

 

 

 

City of Charlotte North Carolina, RB,
Charlotte Douglas Airport, Series A,
5.00%, 7/01/33

 

 

4,000

 

 

4,474,280

 

Gaston County Industrial Facilities &
Pollution Control Financing Authority
North Carolina, RB, Exempt Facilities,
National Gypsum Co. Project, AMT,
5.75%, 8/01/35

 

 

3,105

 

 

2,538,182

 

North Carolina Capital Facilities Finance
Agency, RB, Solid Waste Disposal,
Duke Energy Carolinas Project,
Series B, 4.38%, 10/01/31

 

 

2,000

 

 

2,091,680

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNI INTERMEDIATE DURATION FUND, INC.

JANUARY 31, 2012

5


 

 

 

 

Schedule of Investments (continued)

BlackRock Muni Intermediate Duration Fund, Inc. (MUI)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

North Carolina (concluded)

 

 

 

 

 

 

 

North Carolina Eastern Municipal Power
Agency, Refunding RB, Series B,
5.00%, 1/01/26

 

$

1,925

 

$

2,146,009

 

 

 

 

 

 

 

11,250,151

 

Northern Mariana Islands — 0.0%

 

 

 

 

 

 

 

Commonwealth of the Northern Mariana
Islands, GO, Series A, 6.75%,
10/01/33

 

 

150

 

 

143,214

 

Ohio — 0.5%

 

 

 

 

 

 

 

Cincinnati City School District, GO,
Refunding, School Improvement,
5.25%, 6/01/24

 

 

1,825

 

 

2,197,172

 

City of Cincinnati Ohio, GO, Various
Purpose, Series A, 4.38%, 12/01/30

 

 

900

 

 

970,785

 

 

 

 

 

 

 

3,167,957

 

Oregon — 0.4%

 

 

 

 

 

 

 

Oregon State Facilities Authority, RB,
Reed College Project, Series A, 5.00%,
7/01/29

 

 

1,835

 

 

2,162,914

 

Pennsylvania — 9.1%

 

 

 

 

 

 

 

City of Philadelphia Pennsylvania, RB,
Series A, AMT (AGM), 5.00%, 6/15/20

 

 

2,895

 

 

3,169,678

 

City of Philadelphia Pennsylvania,
Refunding RB, Series B, AMT (AGM),
5.00%, 6/15/19

 

 

3,905

 

 

4,320,141

 

City of Pittsburgh Pennsylvania, GO,
Series C (AGM), 5.25%, 9/01/18

 

 

6,430

 

 

7,265,450

 

City of Pittsburgh Pennsylvania, GO,
Refunding, Series B (AGM), 5.25%,
9/01/17

 

 

9,630

 

 

10,984,941

 

County of Allegheny Pennsylvania, GO:

 

 

 

 

 

 

 

Series C-67, 5.00%, 11/01/25

 

 

2,700

 

 

3,097,359

 

Series C-67, 5.00%, 11/01/26

 

 

2,375

 

 

2,691,777

 

Series C-68, 5.00%, 11/01/25

 

 

2,515

 

 

2,885,133

 

Montgomery County IDA Pennsylvania,
MRB, Whitemarsh Continuing Care,
6.00%, 2/01/21

 

 

3,500

 

 

3,372,950

 

Pennsylvania Economic Development
Financing Authority, RB, National
Gypsum Co., Series A, AMT,
6.25%, 11/01/27

 

 

7,710

 

 

6,839,849

 

Pennsylvania Turnpike Commission, RB,
Sub-Series B, 5.25%, 12/01/31

 

 

4,000

 

 

4,489,440

 

South Fork Municipal Authority,
Refunding RB, Conemaugh Valley
Memorial, Series A (AGC), 6.00%,
7/01/26

 

 

6,225

 

 

7,348,363

 

 

 

 

 

 

 

56,465,081

 

Puerto Rico — 5.2%

 

 

 

 

 

 

 

Puerto Rico Aqueduct & Sewer Authority,
RB, Senior Lien, Series A (AGC),
5.00%, 7/01/25

 

 

3,215

 

 

3,510,201

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Puerto Rico (concluded)

 

 

 

 

 

 

 

Puerto Rico Electric Power Authority, RB,
Series TT, 5.00%, 7/01/27

 

$

6,500

 

$

6,875,180

 

Puerto Rico Highway & Transportation
Authority, RB, Series Y (AGM), 6.25%,
7/01/21

 

 

3,000

 

 

3,599,040

 

Puerto Rico Highway & Transportation
Authority, Refunding RB, Series AA-1
(AGM), 4.95%, 7/01/26

 

 

885

 

 

959,694

 

Puerto Rico Housing Finance Authority,
Refunding RB, Subordinate, Capital
Fund Modernization, 5.13%,
12/01/27

 

 

9,450

 

 

10,340,852

 

Puerto Rico Sales Tax Financing
Corp., RB:

 

 

 

 

 

 

 

First Sub-Series A, 5.63%,
8/01/30

 

 

1,925

 

 

2,046,756

 

Series C, 5.25%, 8/01/40

 

 

3,800

 

 

4,219,938

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, First Sub-
Series A, 6.00%, 8/01/42

 

 

650

 

 

735,319

 

 

 

 

 

 

 

32,286,980

 

Rhode Island — 0.8%

 

 

 

 

 

 

 

Rhode Island Health & Educational
Building Corp., RB:

 

 

 

 

 

 

 

Providence College, 5.00%,
11/01/34

 

 

1,750

 

 

1,894,445

 

University of Rhode Island, Series A
(AGC), 4.75%, 9/15/24

 

 

2,500

 

 

2,830,975

 

 

 

 

 

 

 

4,725,420

 

South Carolina — 0.2%

 

 

 

 

 

 

 

County of Florence South Carolina, RB,
McLeod Regional Medical Center,
Series A, 4.50%, 11/01/25

 

 

1,000

 

 

1,084,020

 

South Dakota — 0.2%

 

 

 

 

 

 

 

South Dakota Health & Educational
Facilities Authority, RB, Regional
Health, 5.00%, 9/01/25

 

 

1,000

 

 

1,111,690

 

Tennessee — 2.7%

 

 

 

 

 

 

 

Chattanooga-Hamilton County Hospital
Authority Tennessee, Refunding RB,
Erlanger Health (AGM), 5.00%,
10/01/22

 

 

1,620

 

 

1,864,312

 

Johnson City Health & Educational
Facilities Board, RB, Appalachian
Christian Village Project, Series A,
6.00%, 2/15/19

 

 

1,360

 

 

1,360,286

 

Knox County Health Educational &
Housing Facilities Board Tennessee,
Refunding RB, Eastowne Village
Project, 4.00%, 6/01/31 (a)

 

 

3,870

 

 

4,121,008

 

Memphis-Shelby County Sports Authority
Inc., Refunding RB, Memphis Arena
Project:

 

 

 

 

 

 

 

Series A, 5.00%, 11/01/23

 

 

2,695

 

 

3,066,533

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNI INTERMEDIATE DURATION FUND, INC.

JANUARY 31, 2012

6


 

 

 

 

Schedule of Investments (continued)

BlackRock Muni Intermediate Duration Fund, Inc. (MUI)
 (Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Tennessee (concluded)

 

 

 

 

 

 

 

Memphis-Shelby County Sports Authority
Inc., Refunding RB Memphis Arena
Project (concluded):

 

 

 

 

 

 

 

Series B, 5.00%, 11/01/22

 

$

1,000

 

$

1,142,690

 

Shelby County Health Educational &
Housing Facilities Board, RB,
Germantown Village, Series A:

 

 

 

 

 

 

 

6.75%, 12/01/18

 

 

3,550

 

 

3,558,023

 

7.00%, 12/01/23

 

 

1,450

 

 

1,447,506

 

 

 

 

 

 

 

16,560,358

 

Texas — 3.9%

 

 

 

 

 

 

 

City of Houston Texas, Refunding ARB,
Sub-Lien, Series A, AMT, 5.00%,
7/01/25

 

 

1,500

 

 

1,670,850

 

Dallas-Fort Worth International Airport
Facilities Improvement Corp., RB,
Series 2001-A-1, AMT, 6.15%,
1/01/16

 

 

4,000

 

 

4,001,840

 

Frisco Independent School District, GO,
Refunding (PSF-GTD), 4.25%,
8/15/28

 

 

5,500

 

 

6,217,585

 

Grand Prairie Independent School
District, GO, Refunding, 4.00%,
2/15/26

 

 

1,500

 

 

1,695,195

 

Gulf Coast IDA, RB, Citgo Petroleum
Corp. Project, Mandatory Put Bonds,
AMT, 7.50%, 5/01/25 (a)

 

 

2,440

 

 

2,477,039

 

Gulf Coast Waste Disposal Authority,
Refunding RB, Series A, AMT, 6.10%,
8/01/24

 

 

650

 

 

663,591

 

San Jacinto River Authority, RB, Special
Project, 5.25%, 10/01/25

 

 

2,910

 

 

3,375,222

 

Socorro Independent School District,
GO, Refunding:

 

 

 

 

 

 

 

5.00%, 8/15/30

 

 

1,000

 

 

1,172,680

 

5.00%, 8/15/32

 

 

2,500

 

 

2,888,425

 

 

 

 

 

 

 

24,162,427

 

US Virgin Islands — 1.4%

 

 

 

 

 

 

 

United States Virgin Islands, Refunding
RB, Government Refinery, Senior
Secured, Hovensa Coker Project, AMT,
6.50%, 7/01/21

 

 

1,860

 

 

1,860,019

 

Virgin Islands Public Finance Authority,
RB, Senior Secured, Hovensa
Refinery, AMT, 6.13%, 7/01/22

 

 

6,750

 

 

6,751,350

 

 

 

 

 

 

 

8,611,369

 

Virginia — 2.7%

 

 

 

 

 

 

 

James City County EDA, Refunding RB,
First Mortgage, Williamsburg Lodge,
Series A:

 

 

 

 

 

 

 

5.75%, 3/01/17

 

 

3,285

 

 

3,305,531

 

6.00%, 3/01/23

 

 

1,150

 

 

1,153,151

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Virginia (concluded)

 

 

 

 

 

 

 

Roanoke Economic Development
Authority, Refunding RB, Carilion
Health System, Series B (AGM),
5.00%, 7/01/38

 

$

3,205

 

$

3,436,754

 

Tobacco Settlement Financing Corp.
Virginia, RB, Asset-Backed, 5.63%,
6/01/15 (b)

 

 

7,800

 

 

9,055,566

 

 

 

 

 

 

 

16,951,002

 

West Virginia — 2.8%

 

 

 

 

 

 

 

West Virginia Hospital Finance Authority,
Refunding RB, Charleston, Series A,
5.13%, 9/01/23

 

 

4,000

 

 

4,364,680

 

West Virginia University, RB, Board of
Governors University Improvement,
Series B:

 

 

 

 

 

 

 

5.00%, 10/01/29

 

 

7,520

 

 

8,691,691

 

5.00%, 10/01/30

 

 

3,500

 

 

4,042,150

 

 

 

 

 

 

 

17,098,521

 

Wisconsin — 1.0%

 

 

 

 

 

 

 

Wisconsin Health & Educational
Facilities Authority, RB, Aurora Health
Care Inc., Series A (AGM), 5.00%,
7/15/27 (f)

 

 

3,770

 

 

4,172,259

 

Wisconsin Housing & EDA, RB, Series C,
AMT, 4.85%, 9/01/26

 

 

2,000

 

 

2,056,840

 

 

 

 

 

 

 

6,229,099

 

Total Municipal Bonds – 131.8%

 

 

 

 

 

818,069,160

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g)

 

 

 

 

 

 

 

California — 3.8%

 

 

 

 

 

 

 

City of San Jose California, GO, Libraries,
Parks, and Public Safety Project
(NPFGC), 5.00%, 9/01/30

 

 

3,101

 

 

3,262,196

 

Peralta Community College District, GO,
Election of 2000, Series D (AGM),
5.00%, 8/01/30

 

 

10,140

 

 

10,612,423

 

Sequoia Union High School District
California, GO, Refunding, Election of
2004, Series B (AGM), 5.50%,
7/01/35

 

 

9,028

 

 

9,838,278

 

 

 

 

 

 

 

23,712,897

 

Illinois — 2.2%

 

 

 

 

 

 

 

McHenry County Conservation District
Illinois, GO (AGM), 5.13%, 2/01/27

 

 

12,695

 

 

14,006,915

 

Massachusetts — 3.4%

 

 

 

 

 

 

 

Massachusetts Development Finance
Agency, RB, Partners Healthcare,
Series L, 5.00%, 7/01/31

 

 

10,175

 

 

11,529,776

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNI INTERMEDIATE DURATION FUND, INC.

JANUARY 31, 2012

7


 

 

 

 

Schedule of Investments (continued)

BlackRock Muni Intermediate Duration Fund, Inc. (MUI)
 (Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g)

 

Par
(000)

 

Value

 

Massachusetts (concluded)

 

 

 

 

 

 

 

Massachusetts School Building
Authority, Sales Tax RB, Series A
(AGM), 5.00%, 8/15/30

 

$

8,338

 

$

9,310,095

 

 

 

 

 

 

 

20,839,871

 

Minnesota — 1.9%

 

 

 

 

 

 

 

State of Minnesota, GO, State Various
Purpose, Series A, 4.00%, 8/01/29

 

 

10,525

 

 

11,899,216

 

New Jersey — 2.0%

 

 

 

 

 

 

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System,
Series D (AGM), 5.00%, 6/15/19

 

 

11,120

 

 

12,312,064

 

New York — 9.0%

 

 

 

 

 

 

 

City of New York, New York, GO:

 

 

 

 

 

 

 

Series E, 5.00%, 8/01/24

 

 

3,990

 

 

4,762,185

 

Sub-Series B-1, 5.25%,
9/01/22

 

 

8,250

 

 

9,905,610

 

New York City Municipal Water & Sewer
Finance Authority, Refunding RB,
Series A, 4.75%, 6/15/30

 

 

8,000

 

 

8,766,560

 

New York State Urban Development
Corp., RB, State Personal Income Tax,
State Facilities, Series A-1 (NPFGC),
5.25%, 3/15/34

 

 

10,000

 

 

10,486,300

 

Port Authority of New York & New Jersey,
RB, Consolidated, 169th Series, AMT,
5.00%, 10/15/26

 

 

5,530

 

 

6,404,569

 

Sales Tax Asset Receivable Corp., RB,
Series A (AMBAC), 5.25%, 10/15/27

 

 

11,101

 

 

12,250,193

 

Suffolk County Water Authority,
Refunding RB, New York Water
System, 3.00%, 6/01/25

 

 

3,242

 

 

3,382,271

 

 

 

 

 

 

 

55,957,688

 

Washington — 1.9%

 

 

 

 

 

 

 

Snohomish County School District No.
15 - Edmonds Washington, GO
(NPFGC), 5.00%, 12/01/19

 

 

10,000

 

 

11,599,300

 

Total Municipal Bonds Transferred to Tender Option
Bond (TOB) Trusts – 24.2%

 

 

 

 

 

150,327,951

 

Total Long-Term Investments
(Cost – $892,810,610) – 156.0%

 

 

 

 

 

968,397,111

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

Value

 

FFI Institutional Tax-Exempt Fund,
0.01% (h)(i)

 

 

12,122,181

 

$

12,122,181

 

Total Short-Term Securities
(Cost – $12,122,181) – 2.0%

 

 

 

 

 

12,122,181

 

Total Investments (Cost - $904,932,791*) – 158.0%

 

 

 

 

 

980,519,292

 

Other Assets Less Liabilities – 0.8%

 

 

 

 

 

5,031,369

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (12.5)%

 

 

 

 

 

(77,771,319

)

VRDP Shares, at Liquidation Value – (46.3)%

 

 

 

 

 

(287,100,000

)

Net Assets Applicable to Common Shares– 100.0%

 

 

 

 

$

620,679,342

 

 

 

*

As of January 31, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

 

 

 

 

 

Tax Cost

 

$

826,552,169

 

Gross unrealized appreciation

 

$

79,571,803

 

Gross unrealized depreciation

 

 

(3,335,576

)

Net unrealized appreciation

 

$

76,236,227

 

 

 

(a)

Variable rate security. Rate shown is as of report date.

 

 

(b)

US government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

 

(c)

Non-income producing security.

 

 

(d)

Issuer filed for bankruptcy and/or is in default of interest payments.

 

 

(e)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

 

(f)

When-issued security. Unsettled when-issued transactions were as follows:


 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Depreciation

 

Merrill Lynch Pierce

 

$

4,172,259

 

$

(943

)

 

 

(g)

Securities represent bonds transferred to a TOB in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

(h)

Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 


Shares
Held at
April 30,
2011

 

Net
Activity

 

Shares
Held at
January 31,
2012

 

Income

 

FFI Institutional Tax-Exempt Fund

 

 

9,713,431

 

 

2,408,750

 

 

12,122,181

 

$

3,933

 

 

 

(i)

Represents the current yield as of report date.


 

 

 

 

 

 

 

 

 

BLACKROCK MUNI INTERMEDIATE DURATION FUND, INC.

JANUARY 31, 2012

8


 

 

 

 

Schedule of Investments (concluded)

BlackRock Muni Intermediate Duration Fund, Inc. (MUI)

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

ARB

Airport Revenue Bonds

BHAC

Berkshire Hathaway Assurance Corp.

CAB

Capital Appreciation Bonds

COP

Certificates of Participation

EDA

Economic Development Authority

EDC

Economic Development Corp.

FGIC

Financial Guaranty Insurance Co.

GARB

General Airport Revenue Bonds

GO

General Obligation Bonds

HFA

Housing Finance Agency

IDA

Industrial Development Authority

LRB

Lease Revenue Bonds

MRB

Mortgage Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

PSF-GTD

Permanent School Fund Guaranteed

Q-SBLF

Qualified School Bond Loan Fund

RB

Revenue Bonds

S/F

Single-Family

 

 

•

Financial futures contracts sold as of January 31, 2012 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

Notional
Value

 

Unrealized
Depreciation

 

180

 

 

10-Year US
Treasury Note

 

 

Chicago
Board of
Trade

 

 

March
2012

 

$

23,805,000

 

$

(315,342

)

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

 

 

 

•

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

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 Fund’s own assumptions used in determining the fair value of investments and derivative financial instruments)

 

 

 

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and does not necessarily correspond to the Fund’s perceived risk of investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its semi-annual report.

 

 

 

The following tables summarize the inputs used as of January 31, 2012 in determining the fair valuation of the Fund’s investments and derivative financial instruments:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Investments1

 

 

—

 

$

968,397,111

 

 

—

 

$

968,397,111

 

Short-Term Securities

 

$

12,122,181

 

 

—

 

 

—

 

 

12,122,181

 

Total

 

$

12,122,181

 

$

968,397,111

 

 

 

 

$

980,519,292

 

 

 

1

See above Schedule of Investments for values in each state or political subdivision.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Derivative Financial Instruments2

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

(315,342

)

 

—

 

 

—

 

$

(315,342

)

 

 

2

Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

 

 

 

 

 

 

 

 

 

BLACKROCK MUNI INTERMEDIATE DURATION FUND, INC.

JANUARY 31, 2012

9

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 Muni Intermediate Duration Fund, Inc.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock Muni Intermediate Duration Fund, Inc.
   
  Date: March 23, 2012
   
  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/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock Muni Intermediate Duration Fund, Inc.
   
  Date: March 23, 2012
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Muni Intermediate Duration Fund, Inc.
     
  Date: March 23, 2012