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 811-21413

 

Name of Fund: BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Floating Rate Income Strategies 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: 08/31/2013

 

Date of reporting period: 05/31/2013

 

Item 1 – Schedule of Investments

 
 
Schedule of Investments May 31, 2013 (Unaudited)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Asset-Backed Securities  
 
ACAS CLO Ltd., Series 2012-1A, Class D, 5.13%, 9/20/23 (a)(b) USD 1,500 $ 1,511,250  
Apidos CDO XI, Series 2012-11A, Class D, 4.74%, 1/17/23 (a)(b)   675   672,638  
Atrium CDO Corp., Series 9A, Class D, 3.96%, 2/28/24 (a)(b)   750   718,597  
Carlyle Global Market Strategies CLO Ltd. (a)(b):  
  Series 2012-4A, Class D, 4.78%, 1/20/25   700   700,350  
  Series 2013-1A, Class C, 4.29%, 2/14/25   250   250,098  
Cavalry CLO Ltd., Series 2A, Class D, 4.38%, 1/17/24 (a)(b)   500   490,000  
Cent CLO LP, Series 2013-17A, Class C, 3.79%, 1/30/25 (a)(b)   500   482,975  
Fraser Sullivan CLO VII Ltd., Series 2012-7A, Class C, 4.28%, 4/20/23 (a)(b)   950   949,990  
Goldentree Loan Opportunities VI Ltd., Series 2012-6A, Class D, 4.48%, 4/17/22 (a)(b)   1,550   1,550,310  
Highbridge Loan Management Ltd., Series 2012-1A, Class C, 5.28%, 9/20/22 (a)(b)   1,500   1,507,500  
ING Investment Management, Series 2012-2A, Class D, 4.83%, 10/15/22 (a)(b)   1,550   1,560,850  
LCM XI LP, Series 11A, Class D2, 4.23%, 4/19/22 (a)(b)   1,625   1,625,000  
Marea CLO Ltd., Series 2012-1A, Class D, 4.83%, 10/16/23 (a)(b)   1,650   1,646,700  
OZLM Funding Ltd. (a)(b):  
  Series 2012-2A, Class C, 4.63%, 10/30/23   500   498,200  
  Series 2013-3A, Class C, 4.15%, 1/22/25   500   491,650  
Race Point VI CLO Ltd., Series 2012-6A, Class D, 4.77%, 5/24/23 (a)(b)   1,075   1,078,977  
Regatta Funding LP, Series 2013-2A, Class C, 4.80%, 1/15/25 (a)(b)   500   500,065  
Symphony CLO Ltd. (a)(b):  
  Series 2012-10A, Class D, 5.53%, 7/23/23   1,500   1,511,250  
  Series 2012-9A, Class D, 4.53%, 4/16/22   1,625   1,625,650  
West CLO Ltd., Series 2012-1A, Class C, 5.03%, 10/30/23 (a)(b)   1,385   1,391,059  
 
Total Asset-Backed Securities – 3.6%   20,763,109  
                   

 

   
Shares		   Value  
Common Stocks (c)  
 
Chemicals — 0.0%  
GEO Specialty Chemicals, Inc.   23,849 $ 18,125  
 
Diversified Financial Services — 0.3%  
Kcad Holdings I Ltd.   217,833,983   1,413,742  
 
Electrical Equipment — 0.0%  
Medis Technologies Ltd.   260,833   3  
 
Metals & Mining — 0.0%  
Euramax International   468   93,500  
 
Paper & Forest Products — 0.5%  
Ainsworth Lumber Co. Ltd.   445,192   1,627,468  
Ainsworth Lumber Co. Ltd. (a)   346,000   1,261,519  
Western Forest Products, Inc.   84,448   105,077  
  
  2,994,064  
 
Semiconductors & Semiconductor Equipment — 0.0%  
SunPower Corp.   1,860   35,898  
 
Software — 0.3%  
Bankruptcy Management Solutions, Inc.   536   —  
HMH Holdings/EduMedia   64,670   1,710,513  
  
  1,710,513  
 
Total Common Stocks – 1.1%   6,265,845  




 

    Par
(000)		      
Corporate Bonds  
 
Airlines — 0.6%  
American Airlines Pass-Through Trust, Series 2011-2, Class A, 8.63%, 4/15/23  USD 324   341,773  
Continental Airlines Pass-Through Trust, Series 2012-3, Class C, 6.13%, 4/29/18   675   708,750  
Delta Air Lines Pass-Through Trust, Series 2009-1, Class B, 9.75%, 12/17/16   206   234,305  
US Airways Pass-Through Trust, Series 2012-2, Class C, 5.45%, 6/03/18 (d)   2,180   2,147,300  
  
  3,432,128  
 
Auto Components — 0.5%  
Icahn Enterprises LP, 8.00%, 1/15/18   2,085   2,210,100  
Schaeffler Finance BV, 4.75%, 5/15/21 (a)   896   880,320  
  
  3,090,420  
 
                             

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 20131
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Corporate Bonds  
 
Building Products — 0.3%  
Cemex SAB de CV, 5.88%, 3/25/19 (a)  USD 309 $ 307,455  
Momentive Performance Materials, Inc., 8.88%, 10/15/20   1,185   1,276,838  
  
  1,584,293  
 
Capital Markets — 0.0%  
E*Trade Financial Corp.0.00, 8/31/19 (a)(e)(f)   129   146,415  
 
Chemicals — 0.5%  
GEO Specialty Chemicals, Inc., 7.50%, 3/31/15   1,559   3,086,994  
 
Commercial Services & Supplies — 0.3%  
AWAS Aviation Capital Ltd., 7.00%, 10/17/16 (a)   1,158   1,213,256  
Brickman Group Holdings, Inc., 9.13%, 11/01/18 (a)   52   56,290  
UR Merger Sub Corp., 5.75%, 7/15/18   350   373,625  
  
  1,643,171  
 
Communications Equipment — 0.6%  
Avaya, Inc., 7.00%, 4/01/19 (a)   787   733,878  
Zayo Group LLC/Zayo Capital, Inc.:  
  8.13%, 1/01/20   1,470   1,631,700  
  10.13%, 7/01/20   1,095   1,272,937  
  
  3,638,515  
 
Construction & Engineering — 0.1%  
Safway Group Holding LLC/Safway Finance Corp., 7.00%, 5/15/18 (a)   335   336,675  
 
Consumer Finance — 0.3%  
Inmarsat Finance Plc, 7.38%, 12/01/17 (a)   1,550   1,627,500  
 
Containers & Packaging — 0.1%  
Ardagh Packaging Finance Plc, 4.88%, 11/15/22 (a)   292   291,270  
 
Diversified Financial Services — 1.1%  
Ally Financial, Inc.:  
  7.50%, 12/31/13   20   20,650  
  7.50%, 9/15/20   160   186,800  
  8.00%, 11/01/31   360   464,400  
Reynolds Group Issuer, Inc.:  
  5.75%, 10/15/20   4,075   4,136,125  
  6.88%, 2/15/21   1,305   1,393,087  
  
  6,201,062  
 
Energy Equipment & Services — 0.3%  
FTS International Services LLC/FTS International Bonds, Inc., 8.13%, 11/15/18 (a)   498   530,370  
    Par
(000)		   Value  
Corporate Bonds  
 
Energy Equipment & Services (concluded)  
Tervita Corp., 8.00%, 11/15/18 (a)  USD 1,015 $ 1,050,525  
  
  1,580,895  
 
Health Care Equipment & Supplies — 0.1%  
DJO Finance LLC, 7.75%, 4/15/18   305   315,675  
 
Health Care Providers & Services — 0.8%  
CHS/Community Health Systems, Inc., 5.13%, 8/15/18   1,566   1,632,555  
HCA, Inc., 6.50%, 2/15/20   1,635   1,843,462  
Tenet Healthcare Corp.:  
  6.25%, 11/01/18   372   411,990  
  4.50%, 4/01/21 (a)   750   736,875  
  
  4,624,882  
 
Health Care Technology — 0.7%  
IMS Health, Inc., 12.50%,     3/01/18 (a)   3,540   4,155,075  
 
Hotels, Restaurants & Leisure — 0.3%  
Little Traverse Bay Bands of Odawa Indians, 9.00%,  8/31/20 (a)   948   919,560  
Travelport LLC, 6.40%, 3/01/16 (a)(b)   657   622,721  
Tropicana Entertainment LLC, 9.63%, 12/15/14 (c)(g)   120   —  
  
  1,542,281  
 
Household Durables — 0.1%  
Beazer Homes USA, Inc., 6.63%, 4/15/18   790   856,163  
 
Household Products — 0.1%  
Spectrum Brands, Inc., 9.50%, 6/15/18   505   558,656  
 
Independent Power Producers & Energy Traders — 1.5%  
Dynegy, Inc., 5.88%, 6/01/23 (a)   935   920,975  
Energy Future Intermediate Holding Co. LLC:  
  10.00%, 12/01/20 (a)   1,115   1,264,131  
  10.00%, 12/01/20   5,790   6,593,363  
  
  8,778,469  
 
Insurance — 0.3%  
Ally Financial, Inc., 2.49%, 12/01/14 (b)   1,950   1,959,690  
 
IT Services — 0.3%  
First Data Corp. (a):  
  7.38%, 6/15/19   700   738,500  
  6.75%, 11/01/20   1,075   1,123,375  
  
  1,861,875  
 
Media — 1.1%  
AMC Networks, Inc., 7.75%, 7/15/21   455   515,287  
                             

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 20132
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Corporate Bonds  
 
Media (concluded)  
Checkout Holding Corp., 9.83%, 11/15/15 (a)(e)  USD 906 $ 715,740  
Clear Channel Communications, Inc., 9.00%, 12/15/19 (a)   387   388,935  
Clear Channel Worldwide Holdings, Inc. (a):  
  6.50%, 11/15/22   829   870,450  
  6.50%, 11/15/22   2,240   2,363,200  
Lynx I Corp., 5.38%, 4/15/21 (a)   500   520,000  
NAI Entertainment Holdings LLC, 8.25%, 12/15/17 (a)   1,120   1,209,600  
  
  6,583,212  
 
Metals & Mining — 0.0%  
RathGibson, Inc., 11.25%, 2/15/14 (c)(g)   1,390   —  
 
Oil, Gas & Consumable Fuels — 0.5%  
EP Energy LLC/Everest Acquisition Finance, Inc., 6.88%, 5/01/19   635   685,800  
Offshore Group Investment Ltd., 7.13%, 4/01/23 (a)   385   397,512  
Pacific Drilling SA, 5.38%, 6/01/20 (a)(d)   910   900,900  
Petrobras Global Finance BV, 3.00%, 1/15/19   681   664,223  
  
  2,648,435  
 
Real Estate Management & Development — 0.1%  
Realogy Corp., 7.63%, 1/15/20 (a)   730   826,725  
 
Wireless Telecommunication Services — 0.8%  
Sprint Nextel Corp. (a):  
  9.00%, 11/15/18   1,530   1,855,125  
  7.00%, 3/01/20   2,410   2,711,250  
  
  4,566,375  
 
Total Corporate Bonds – 11.4%   65,936,851  




 

Floating Rate Loan Interests (b)  
 
Aerospace & Defense — 1.3%  
DigitalGlobe, Inc., Term Loan B, 3.75%, 1/31/20   2,240   2,252,320  
DynCorp International LLC, Term Loan B, 6.25%, 7/07/16   1,174   1,180,513  
The SI Organization, Inc., Term Loan B, 4.50%, 11/22/16   1,699   1,688,462  
Spirit Aerosystems, Inc., Term Loan B, 3.75%, 4/18/19   1,584   1,595,880  
Transdigm, Inc., Term Loan C, 3.75%, 2/28/20   898   906,952  
  
  7,624,127  
 
    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Airlines — 1.4%  
Delta Air Lines, Inc.:  
  Term Loan, 3.53%, 9/16/15 USD 1,488 $ 1,420,659  
  Term Loan B, 5.00%, 4/20/17   2,233   2,256,642  
Northwest Airlines, Inc.:  
  2.30%, 3/10/17   521   482,109  
  2.30%, 3/10/17   523   483,754  
  1.68%, 9/10/18   435   384,497  
  1.68%, 9/10/18   443   391,856  
  1.68%, 9/10/18   438   387,799  
US Airways Group, Inc., Term Loan B1, 4.25%, 5/23/19   2,025   2,022,975  
  
  7,830,291  
 
Auto Components — 4.6%  
Affinia Group Intermediate Holdings Inc., Term Loan B2, 4.75%, 4/15/20   1,580   1,583,950  
Autoparts Holdings Ltd., First Lien Term Loan, 6.50%, 7/28/17   2,797   2,755,046  
Federal-Mogul Corp.:  
  Term Loan B, 2.14%, 12/29/14   6,657   6,513,277  
  Term Loan C, 2.14%, 12/28/15   5,389   5,266,297  
FleetPride Corp., First Lien Term Loan, 5.25%, 11/20/19   1,571   1,568,125  
The Goodyear Tire & Rubber Co., Second Lien Term Loan, 4.75%, 4/30/19   5,015   5,041,479  
GPX International Tire Corp. (c)(g):  
  Term Loan, 0.00%, 12/31/13   1,097   —  
  Term Loan, 0.00%, 12/31/13 (h)   18   —  
Schaeffler AG, Term Loan C, 4.25%, 1/27/17   35   35,423  
Transtar Holding Co., First Lien Term Loan, 5.50%, 10/09/18   2,139   2,160,642  
UCI International, Inc., Term Loan B, 5.50%, 7/26/17   1,463   1,468,306  
  
  26,392,545  
 
Biotechnology — 0.2%  
Grifols, Inc., Term Loan B, 4.25%, 6/01/17   1,428   1,438,484  
 
Building Products — 1.4%  
Armstrong World Industries, Inc., Term Loan B, 3.50%, 3/16/20   1,145   1,146,431  
CPG International, Inc., Term Loan, 5.75%, 9/18/19   3,592   3,615,909  
Wilsonart International Holdings LLC, Term Loan B, 4.00%, 10/31/19   3,446   3,447,224  
  
  8,209,564  
 
                             

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 20133
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Capital Markets — 1.9%  
American Capital Holdings, Inc., Term Loan, 5.50%, 8/22/16 USD 2,312 $ 2,340,900  
HarbourVest Partners LLC, Term Loan B, 4.75%, 11/21/17   1,520   1,529,827  
Knight Capital Group, Inc., Term Loan B, 5.38%, 11/10/17   1,900   1,881,000  
Nuveen Investments, Inc.:  
  Incremental Term Loan, 4.19%, 5/13/17   4,450   4,462,060  
  Second Lien Term Loan, 6.50%, 2/28/19   588   589,470  
  
  10,803,257  
 
Chemicals — 4.5%  
AI Chem & Cy S.C.A.:  
  Second Lien Term Loan, 8.25%, 4/03/20   540   553,500  
  Term Loan B1, 4.50%, 10/03/19   1,116   1,123,652  
  Term Loan B2, 4.50%, 10/03/19   579   583,733  
American Rock Salt Holdings LLC, Term Loan, 5.50%, 4/25/17   2,324   2,337,262  
Chemtura Corp., Exit Term Loan B, 5.50%, 8/27/16   2,542   2,565,494  
Evergreen Acqco 1 LP, Term Loan, 5.00%, 7/09/19   2,086   2,093,490  
General Chemical Corp., Term Loan, 5.00% - 5.75%, 10/06/15   1,457   1,466,743  
Ineos US Finance LLC, 3 year Term Loan, 2.19%, 5/04/15   384   386,566  
INEOS US Finance LLC, 6 Year Term Loan, 4.00%, 5/04/18   1,450   1,449,419  
MacDermid, Inc., Tranche C Term Loan, 2.31%, 4/11/14 EUR 881   1,142,698  
Nexeo Solutions LLC, Term Loan B, 5.00%, 9/08/17 USD 2,486   2,476,343  
Tronox Pigments (Netherlands) BV, Term Loan, 4.50%, 3/19/20   3,472   3,502,704  
Univar, Inc., Term Loan B, 5.00%, 6/30/17   1,801   1,787,076  
US Coatings Acquisition, Inc., Term Loan, 4.75%, 2/03/20 EUR 4,440   4,471,657  
  
  25,940,337  
 
Commercial Services & Supplies — 4.6%  
ADS Waste Holdings, Inc., Term Loan B, 4.25%, 10/09/19 USD 3,976   4,000,548  
Altegrity, Inc.:  
  Term Loan, 5.00%, 2/21/15   905   896,520  
  Tranche D Term Loan, 7.75%, 2/20/15   1,201   1,211,086  
ARAMARK Corp.:  
  Extended LC-3 Facility, 3.70%, 7/26/16   32   32,497  
    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Commercial Services & Supplies (concluded)  
ARAMARK Corp. (concluded):  
  Extended Letter of Credit, 3.70%, 7/26/16 USD 46 $ 46,555  
AWAS Finance Luxembourg SA, Term Loan, 3.50%, 7/16/18   1,261   1,273,387  
AWAS Finance Luxembourg Sarl, Term Loan B, 3.50%, 6/10/16   1,505   1,515,299  
Catalent Pharma Solutions Inc., Term Loan, 6.50%, 12/29/17   500   505,625  
Garda World Security Corp., Term Loan B, 4.50%, 11/13/19   706   713,515  
KAR Auction Services, Inc., Term Loan B, 3.75%, 5/19/17   2,613   2,648,288  
Learning Care Group (US) No. 2 Inc., Term Loan B, 6.00%, 5/08/19   1,150   1,152,162  
Livingston International Inc., First Lien Term Loan, 5.00%, 4/16/19   1,360   1,362,557  
Livingston International, Inc., Second Lien Term Loan, 9.00%, 4/16/20   895   908,425  
Progressive Waste Solutions Ltd., Term Loan B, 3.50%, 10/24/19   1,347   1,357,842  
Protection One, Inc., Term Loan, 4.25%, 3/21/19   2,435   2,453,672  
Spin Holdco Inc., Term Loan B, 4.25%, 11/15/19   3,150   3,165,750  
West Corp., Term Loan B8, 4.25%, 6/29/18   3,005   3,026,906  
  
  26,270,634  
 
Communications Equipment — 3.8%  
Alcatel-Lucent USA, Inc.:  
  Term Loan B, 6.25%, 8/01/16   1,910   1,929,367  
  Term Loan C, 7.25%, 1/30/19   3,726   3,762,137  
  Term Loan D, 7.50%, 1/30/19 EUR 1,052   1,383,195  
Arris Group, Inc.,, Term Loan B, 3.50%, 4/17/20 USD 770   769,523  
Avaya, Inc.:  
  Extended Term Loan B3, 4.77%, 10/26/17   2,547   2,284,697  
  Term Loan B5, 8.00%, 3/30/18   646   616,570  
CommScope, Inc., Term Loan, 3.75%, 1/12/18   1,954   1,971,690  
Riverbed Technology, Inc., Term Loan, 4.00%, 12/18/19   1,580   1,595,313  
Telesat Canada, Term Loan A, 4.83%, 3/24/17 CAD 2,469   2,369,333  
Zayo Group, LLC, Term Loan B, 4.50%, 7/02/19 USD 5,134   5,133,748  
  
  21,815,573  
 
                             

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 20134
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Construction & Engineering — 0.9%  
BakerCorp International, Inc., Term Loan, 4.25%, 2/14/20 USD 1,700 $ 1,711,824  
Centaur LLC:  
  First Lien Term Loan, 5.25%, 2/15/19   2,500   2,521,875  
  Second Lien Term Loan, 8.75%, 2/15/20   1,230   1,246,150  
  
  5,479,849  
 
Construction Materials — 1.5%  
HD Supply, Inc., Senior Debt B, 4.50%, 10/12/17   8,367   8,427,904  
 
Consumer Finance — 0.7%  
Moneygram International, Inc, Term Loan B, 4.25%, 3/20/20   1,370   1,373,425  
Springleaf Financial Funding Co., Term Loan, 5.50%, 5/10/17   2,513   2,519,961  
  
  3,893,386  
 
Containers & Packaging — 1.7%  
Berlin Packaging LLC:  
  First Lien Term Loan, 4.75%, 4/02/19   450   454,689  
  Second Lien Term Loan, 8.75%, 4/02/20   585   593,775  
Clondalkin, Term Loan B, 5.75%, 5/28/20   1,035   1,035,000  
Pact Group Pty Ltd., Term Loan B, 3.75%, 5/08/20   4,385   4,428,850  
Sealed Air Corp., Term Loan, 4.00%, 10/03/18   1,656   1,674,650  
Tekni-Plex, Inc., Term Loan B, 5.50%, 8/25/19   1,725   1,716,375  
  
  9,903,339  
 
Distributors — 1.3%  
ABC Supply Co., Inc., Term Loan, 3.50%, 4/16/20   5,035   5,049,098  
Crossmark Holdings, Inc., Term Loan, 4.50%, 12/20/19   1,027   1,027,425  
VWR Funding, Inc., Extended Term Loan, 4.19%, 4/03/17   1,207   1,217,029  
  
  7,293,552  
 
Diversified Consumer Services — 2.3%  
Bright Horizons Family Solutions, Inc., Term Loan B, 4.00% - 5.25%, 1/30/20   2,818   2,836,958  
Dundee Holdco 4 Limited, Term Loan, 5.50%, 3/28/20   915   920,719  
Education Management LLC, Term Loan C3, 8.25%, 3/29/18   238   224,593  
Laureate Education, Inc., Extended Term Loan, 5.25%, 6/18/18   2,402   2,409,036  
ServiceMaster Co., Term Loan, 4.25%, 1/31/17   3,800   3,799,753  
    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Diversified Consumer Services (concluded)  
Weight Watchers International, Inc., Term Loan B2, 3.75%, 4/02/20 USD 2,840 $ 2,838,409  
  
  13,029,468  
 
Diversified Financial Services — 1.9%  
ION Trading Technologies Ltd Inc:  
  First Lien Term Loan, 4.50%, 5/22/20   1,740   1,752,319  
  Second Lien Term Loan, 8.50%, 5/21/21   365   367,738  
Reynolds Group Holdings Inc., Dollar Term Loan, 4.75%, 9/28/18   3,294   3,320,393  
ROC Finance LLC, Term Loan, 5.00%, 5/15/19   1,080   1,087,560  
Telesat LLC, Term Loan B, 3.50%, 3/28/19   779   783,148  
WMG Acquisition Corp.:  
  Delayed Draw Term Loan 1, 4.25%, 7/06/20   1,502   1,493,498  
  Delayed Draw Term Loan 2, 3.75%, 7/06/20   233   231,387  
  Term Loan, 3.75%, 5/18/20   1,760   1,768,800  
  
  10,804,843  
 
Diversified Telecommunication Services — 4.6%  
Consolidated Communications, Inc., Term Loan B3, 5.25%, 12/31/18   3,910   3,943,437  
Hawaiian Telcom Communications, Inc., Term Loan B, 7.00%, 2/28/17   2,738   2,754,128  
Integra Telecom Inc.:  
  Second Lien Term Loan, 9.75%, 2/21/20   1,070   1,098,847  
  Term Loan, 6.00%, 2/22/19   2,040   2,060,400  
Level 3 Financing, Inc.:  
  2016 Term Loan B, 4.75%, 2/01/16   2,517   2,539,377  
  2019 Term Loan B, 5.25%, 8/01/19   1,085   1,099,246  
  Term Loan, 4.75%, 8/01/19   7,830   7,886,298  
Syniverse Holdings, Inc., Delayed Draw Term Loan, 4.00%, 4/23/19   2,000   2,006,880  
US Telepacific Corp., Term Loan B, 5.75%, 2/23/17   3,093   3,088,514  
  
  26,477,127  
 
Electronic Equipment, Instruments & Components — 0.4%  
CDW LLC, Term Loan, 3.50%, 4/29/20   2,300   2,291,375  
                             

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 20135
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Electronic Equipment, Instruments & Components (concluded)  
Flextronics International Ltd., Delayed Draw:  
  Sr TL Tranche A DD A-2, 2.44%, 10/01/14 USD 11 $ 11,451  
  Sr TL Tranche A DD A-3, 2.44%, 10/01/14   13   13,360  
  
  2,316,186  
 
Energy Equipment & Services — 1.4%  
API Heat Transfer, Inc., Term Loan, 5.25%, 4/30/19   1,660   1,660,000  
Dynegy Holdings Inc., Term Loan B2, 4.00%, 4/23/20   2,060   2,064,717  
MEG Energy Corp., Term Loan, 3.75%, 3/31/20   2,292   2,303,845  
Tervita Corp., Term Loan, 6.25%, 5/15/18   1,030   1,041,206  
Unifrax Corp., Term Loan, 4.25%, 11/28/18   963   968,007  
  
  8,037,775  
 
Food & Staples Retailing — 4.0%  
Alliance Boots Holdings Ltd., Term Loan B1, 3.49%, 7/09/15 GBP 3,250   4,919,529  
JC Penney Corp., Inc., First Lien Term Loan, 6.00%, 4/30/18 USD 5,525   5,597,543  
Pilot Travel Centers LLC, Term Loan B2, 4.25%, 8/07/19   2,109   2,088,306  
Rite Aid Corp.:  
  Second Lien Term Loan, 5.75%, 8/21/20   1,040   1,072,281  
  Term Loan 6, 4.00%, 2/21/20   875   879,559  
Sprouts Farmers Markets Holdings, LLC, Term Loan, 4.50%, 4/23/20   1,510   1,510,000  
Supervalu Inc, Term Loan B, 5.00%, 3/21/19   2,269   2,260,148  
US Foods, Inc., Term Loan, 4.50%, 3/29/19   5,000   4,981,250  
  
  23,308,616  
 
Food Products — 2.6%  
Advance Pierre Foods, Inc., Term Loan, 5.75%, 7/10/17   2,354   2,368,083  
Del Monte Foods Co., Term Loan, 4.00%, 3/08/18   2,801   2,811,592  
Dole Food Co., Inc., Term Loan, 3.75%, 4/01/20   3,030   3,037,030  
Michael Foods Group, Inc., Term Loan, 4.25%, 2/23/18   653   661,418  
Performance Food Group Co., Second Lien Term Loan, 6.25%, 11/29/19   2,960   2,960,740  
    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Food Products (concluded)  
Pinnacle Foods Finance LLC, Term Loan G, 3.25%, 4/29/20 USD 3,050 $ 3,050,000  
  
  14,888,863  
 
Health Care Equipment & Supplies — 5.1%  
Arysta LifeScience Corp.:  
  First Lien Term Loan, 4.50%, 5/25/20   4,110   4,128,002  
  Second Lien Term Loan, 8.25%, 11/30/20   1,675   1,692,269  
Bausch & Lomb, Inc., Term Loan B, 4.00%, 5/17/19   4,616   4,623,912  
Biomet, Inc., Extended Term Loan B, 3.94% - 4.03%, 7/25/17   1,909   1,919,892  
BSN Medical Acquisition Holding GmbH, Term Loan B1A, 5.00%, 8/28/19   1,680   1,694,700  
Capital Safety North America Holding, Inc., Term Loan, 4.50%, 1/21/19   1,549   1,552,292  
DJO Finance LLC, Term Loan B3, 4.75%, 9/15/17   4,601   4,658,588  
Hologic, Inc., Term Loan B, 4.50%, 8/01/19   4,125   4,149,195  
IASIS Healthcare LLC, Term Loan B2, 4.50%, 5/03/18   437   438,503  
Immucor, Inc., Term Loan B2, 5.00%, 8/17/18   3,581   3,604,608  
LHP Hospital Group, Inc., Term Loan, 9.00%, 7/03/18   928   946,547  
  
  29,408,508  
 
Health Care Providers & Services — 5.0%  
American Renal Holdings, Inc.:  
  First Lien Term Loan, 4.50%, 9/22/19   2,890   2,895,433  
  Second Lien Term Loan, 8.50%, 2/14/20   1,795   1,805,465  
Ardent Medical Services, Inc., Term Loan, 6.75%, 7/02/18   1,157   1,169,631  
CHG Buyer Corp., First Lien Term Loan, 5.00%, 11/22/19   1,974   1,993,687  
ConvaTec, Inc., Term Loan, 5.00%, 12/22/16   2,440   2,467,743  
DaVita, Inc.:  
  Term Loan B, 4.50%, 10/20/16   3,862   3,894,442  
  Term Loan B2, 4.00%, 11/01/19   1,778   1,797,253  
Emergency Medical Services Corp., Term Loan, 4.00%, 5/25/18   2,476   2,489,218  
Genesis HealthCare Corp., Term Loan B, 10.00% - 10.75%, 9/25/17   1,292   1,330,532  
                             

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 20136
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Health Care Providers & Services (concluded)  
HCA, Inc.:  
  Extended Term Loan B4, 2.94%, 5/01/18 USD 1,139 $ 1,142,193  
  Term Loan B5, 3.03%, 3/31/17   827   829,621  
inVentiv Health, Inc.:  
  Combined Term Loan, 7.50%, 8/04/16   1,008   995,432  
  Incremental Term Loan B3, 7.75%, 5/15/18   1,105   1,092,448  
Surgical Care Affiliates, Inc., Term Loan B, 4.25%, 6/29/18   1,865   1,870,837  
US Renal Care, Inc., First Lien Term Loan, 6.25%, 7/02/19   2,238   2,263,266  
Vanguard Health Holdings Co. II LLC, Term Loan B, 3.75%, 1/29/16   742   748,502  
  
  28,785,703  
 
Health Care Technology — 1.6%  
IMS Health, Inc., Term Loan B1, 3.75%, 9/01/17   3,205   3,221,426  
Kinetic Concepts, Inc., Term Loan C1, 5.50%, 5/04/18   3,978   4,024,739  
MedAssets, Inc., Term Loan B, 4.00%, 12/13/19   1,180   1,185,536  
Merge Healthcare Inc, Term Loan B, 6.00%, 4/23/19   820   824,100  
  
  9,255,801  
 
Hotels, Restaurants & Leisure — 6.7%  
Alpha D2 Ltd., Extended Term Loan B2, 6.00%, 4/30/19   1,592   1,609,296  
Boyd Gaming Corp., Incremental Term Loan, 6.00%, 12/17/15   1,627   1,645,268  
Caesars Entertainment Operating Co., Inc.:  
  Extended Term Loan B6, 5.44%, 1/26/18   555   495,465  
  Term Loan, 9.25%, 4/25/17   1,389   1,416,780  
Golden Living, Term Loan, 5.00%, 5/04/18   1,634   1,572,243  
Harrah's Property Co., Mezzanine Term Loan, 3.69%, 2/13/14   13,473   12,294,112  
Kasima LLC, Term Loan B, 3.25%, 5/14/21   2,420   2,424,550  
MGM Resorts International, Term Loan B, 3.50%, 12/20/19   2,382   2,387,155  
OSI Restaurant Partners LLC, Term Loan, 3.50%, 10/25/19   1,055   1,054,240  
Sabre, Inc., Term Loan B, 5.25%, 2/19/19   1,406   1,423,057  
Six Flags Theme Parks, Inc., Term Loan B, 4.00%, 12/20/18   1,154   1,168,830  
    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Hotels, Restaurants & Leisure (concluded)  
Station Casinos, Inc., Term Loan B, 5.00%, 3/01/20 USD 5,280 $ 5,328,840  
Travelport LLC:  
  Extended Delayed Draw Term Loan, 4.96%, 8/21/15   574   571,286  
  Second Lien Term Loan 1, 9.50%, 1/29/16   782   813,558  
Twin River Worldwide Holdings, Inc., Term Loan B, 5.25%, 9/27/18   2,477   2,504,904  
Wendy's International, Inc., Term Loan B, 3.25%, 5/15/19   2,051   2,063,362  
  
  38,772,946  
 
Household Products — 1.4%  
Anchor Hocking LLC, Term Loan, 7.50%, 5/06/20   420   424,200  
Prestige Brands, Inc., Term Loan, 3.75%, 1/31/19   2,033   2,047,660  
Spectrum Brands, Inc., Term Loan, 4.50%  - 5.50%, 12/17/19   4,011   4,054,607  
Waddington North America Inc.:  
  First Lien Term Loan, 4.75%, 5/15/20   1,200   1,203,000  
  Second Lien Term Loan, 8.50%, 11/16/20   410   412,050  
  
  8,141,517  
 
Independent Power Producers & Energy Traders — 1.8%  
The AES Corp., Term Loan B, 3.75%, 6/01/18   3,065   3,093,528  
Calpine Corp., Term Loan B1, 4.00%, 4/02/18   928   935,276  
La Frontera Generation, LLC, Term Loan, 4.50%, 9/30/20   4,725   4,760,437  
Star West Generation LLC, Term Loan B, 5.00%, 3/13/20   1,764   1,768,340  
  
  10,557,581  
 
Industrial Conglomerates — 0.8%  
Sequa Corp., Term Loan B, 5.25%, 6/19/17   4,581   4,624,880  
 
Insurance — 2.3%  
Alliant Holdings I, Inc., Term Loan B, 5.00%, 12/20/19   1,835   1,844,577  
Asurion LLC, Term Loan B1, 4.50%, 5/24/19   2,843   2,854,559  
CNO Financial Group, Inc.:  
  Term Loan B1, 3.00%, 9/28/16   1,620   1,629,121  
  Term Loan B2, 3.75%, 9/20/18   2,337   2,348,532  
                             

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 20137
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Insurance (concluded)  
Cooper Gay Swett & Crawford Ltd, First Lien Term Loan, 5.00%, 4/06/20 USD 1,845 $ 1,865,756  
Cooper Gay Swett & Crawford Ltd., Second Lien Term Loan, 8.25%, 10/05/20   860   875,050  
Cunningham Lindsey US, Inc., First Lien Term Loan, 5.00%, 12/10/19   1,596   1,609,965  
  
  13,027,560  
 
Internet Software & Services — 0.4%  
Web.com Group, Inc., Term Loan B, 4.50%, 10/27/17   2,237   2,266,663  
 
IT Services — 4.8%  
CCC Information Services, Inc., Term Loan, 4.00%, 12/20/19   928   932,313  
Ceridian Corp., Extended Term Loan, 5.95%, 5/09/17   4,118   4,145,036  
First Data Corp.:  
  Extended 2018 Term Loan B, 4.20%, 3/23/18   9,919   9,874,053  
  Term Loan, 4.20%, 3/24/17   0.00   0.00  
  Term Loan, 4.20%, 9/24/18   1,740   1,731,056  
Genpact International, Inc., Term Loan B, 4.25%, 8/30/19   2,882   2,907,571  
InfoGroup, Inc., Term Loan, 7.50%, 5/25/18   1,015   923,222  
SunGard Data Systems, Inc.:  
  Term Loan D, 4.50%, 1/31/20   1,162   1,176,614  
  Term Loan E, 4.00%, 3/08/20   650   656,909  
TransUnion LLC, Term Loan, 4.25%, 2/10/19   5,505   5,543,750  
  
  27,890,524  
 
Leisure Equipment & Products — 0.2%  
FGI Operating Co. LLC, Term Loan, 5.50%, 4/19/19   890   892,636  
 
Life Sciences Tools & Services — 0.2%  
Patheon, Inc., Term Loan, 7.25%, 12/06/18   1,204   1,218,999  
 
Machinery — 2.7%  
Alliance Laundry Systems LLC:  
  Second Lien Term Loan, 9.50%, 12/10/19   573   584,182  
  Term Loan, 4.50%, 12/07/18   1,015   1,021,818  
Dematic S.A., Term Loan, 5.25%, 12/27/19   2,459   2,477,279  
Generac Power Systems, Inc., Term Loan B, 3.50%, 5/30/20   3,435   3,433,557  
Intelligrated, Inc., First Lien Term Loan, 4.50%, 7/30/18   1,990   2,002,437  
Navistar International Corp., Term Loan B, 5.75%, 8/07/17   904   921,068  
    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Machinery (concluded)  
Rexnord LLC, Term Loan B, 3.75%, 4/02/18 USD 857 $ 866,671  
Silver II US Holdings LLC, Term Loan, 4.00%, 12/13/19   2,838   2,838,483  
Terex Corp., Term Loan B, 5.00%, 4/28/17 EUR 153   200,686  
Wabash National Corp., Term Loan B, 4.50%, 5/02/19 USD 1,498   1,505,554  
  
  15,851,735  
 
Media — 13.5%  
AMC Entertainment, Inc., Term Loan, 3.50%, 4/30/20   1,155   1,157,345  
BBHI Acquisition LLC, Term Loan B, 4.50%, 12/14/17   3,836   3,839,872  
Capsugel Holdings US, Inc., Term Loan B, 4.75%, 8/01/18   2,329   2,348,268  
Catalina Marketing Corp., Term Loan B, 5.69%, 9/29/17   2,217   2,249,889  
Cengage Learning Acquisitions, Inc.:  
  Non Extended Term Loan, 2.70%, 7/03/14   783   614,565  
  Tranche 1 Incremental, 7.50%, 7/03/14   1,712   1,345,100  
Charter Communications Operating LLC, Term Loan D, 3.00%, 4/10/20   2,035   2,022,648  
Clear Channel Communications, Inc.:  
  Term Loan B, 3.84%, 1/29/16   1,635   1,517,467  
  Term Loan C, 3.84%, 1/29/16   184   169,485  
  Term Loan D, 6.94%, 1/22/19   5,890   5,496,478  
Cumulus Media, Inc., First Lien Term Loan, 4.50%, 9/17/18   2,509   2,529,849  
EMI Music Publishing Ltd., Term Loan B, 4.25%, 6/29/18   1,965   1,976,798  
Fender Musical Instrument Corp., Term Loan B, 5.75%, 4/03/19   320   319,334  
Foxco Acquisition Sub LLC, Term Loan B, 5.50%, 7/14/17   3,035   3,073,964  
Getty Images, Inc., Term Loan B, 4.75%, 10/18/19   1,434   1,441,585  
Gray Television, Inc., Term Loan B, 4.75%, 10/15/19   1,747   1,768,473  
Houghton Mifflin Harcourt Publishing Co., DIP Term Loan B, 5.25%, 6/01/18   1,886   1,885,950  
Hubbard Broadcasting, Term Loan B, 4.50%, 4/28/17   1,613   1,621,012  
Intelsat Jackson Holdings SA, Term Loan B1, 4.25%, 4/02/18   7,671   7,716,856  
Interactive Data Corp., Term Loan B, 3.75%, 2/11/18   3,837   3,846,554  
Kabel Deutschland GmbH, Term Loan F1, 3.25%, 2/01/19   909   908,091  
                             

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 20138
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Media (concluded)  
Lavena Holding 4 GmbH:  
  Term Loan B, 2.62%, 3/06/15 EUR 912 $ 1,171,985  
  Term Loan C, 3.00%, 3/04/16   304   392,636  
NEP Supershooters LP:  
  Second Lien Term Loan, 9.50%, 8/18/20 USD 571   589,526  
  Term Loan, 4.75%, 1/18/20   2,893   2,923,500  
Nielsen Finance LLC, Term Loan E, 2.95%, 5/02/16   2,751   2,774,924  
Rentpath, Inc., Term Loan B, 6.25%, 5/02/20   2,365   2,326,569  
Salem Communications Corp., Term Loan B, 4.50%, 3/16/20   1,760   1,780,856  
Sinclair Television Group Inc., Term Loan B, 3.00%, 4/09/20   1,895   1,904,134  
Univision Communications, Inc., Converted Extended Term Loan, 4.50%, 3/02/20   3,095   3,086,639  
UPC Financing Partnership, Term Loan AG, 3.87%, 3/26/21 EUR 1,272   1,656,609  
Virgin Media Investment Holdings:  
  Term Loan B, 4.50%, 2/15/20 GBP 2,840   4,349,484  
  Term Loan B, 3.50%, 2/17/20 USD 4,085   4,077,116  
WC Luxco Sarl, Term Loan B3, 4.25%, 3/15/18   761   765,074  
WideOpenWest Finance LLC, Term Loan B, 4.75%, 3/26/19   2,248   2,263,479  
  
  77,912,114  
 
Metals & Mining — 4.5%  
Ameriforge Group, Inc.:  
  First Lien Term Loan, 6.00%, 12/19/19   1,636   1,654,991  
  Second Lien Term Loan, 8.75%, 12/18/20   815   831,300  
Constellium Holdco BV, Term Loan B, 6.25%, 3/25/20   3,655   3,714,394  
FMG America Finance, Inc., Term Loan, 5.25%, 10/18/17   6,290   6,319,072  
Murray Energy Corp., Term Loan B, 4.75%, 5/24/19   840   844,830  
Novelis, Inc., Term Loan, 3.75%, 3/10/17   5,013   5,081,712  
SunCoke Energy, Inc., Term Loan B, 4.00%, 7/26/18   576   577,787  
Walter Energy, Inc., Term Loan B, 5.75%, 4/02/18   4,313   4,326,393  
Windsor Financing LLC, Term Loan B, 6.25%, 12/05/17   2,756   2,845,627  
  
  26,196,106  
 
Multiline Retail — 2.3%  
99 Cents Only Stores, Term Loan, 5.25%, 1/11/19   2,002   2,029,046  
Apex Tool Group LLC, Term Loan B, 4.50%, 2/01/20   2,115   2,128,557  
    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Multiline Retail (concluded)  
BJ's Wholesale Club, Inc.:  
  Replacement Term Loan, 4.25%, 9/26/19 USD 1,796 $ 1,801,033  
  Second Lien Term Loan, 9.75%, 3/26/20   1,230   1,260,135  
HEMA Holding BV:  
  Second Lien Term Loan, 5.12%, 1/05/17 EUR 1,400   1,699,553  
  Term Loan B, 2.12%, 7/06/15   596   759,219  
  Term Loan C, 2.87%, 7/05/16   596   763,091  
The Neiman Marcus Group, Inc., Extended Term Loan, 4.00%, 5/16/18 USD 2,620   2,617,275  
  
  13,057,909  
 
Oil, Gas & Consumable Fuels — 6.5%  
Chesapeake Energy Corp., Unsecured Term Loan, 5.75%, 12/01/17   4,285   4,389,683  
Everest Acquisition LLC, Term Loan B3, 3.50%, 5/24/18   2,880   2,893,680  
Gibson Energy ULC, Term Loan B, 4.75%, 6/15/18   3,315   3,353,200  
GIM Channelview Cogeneration, LLC, Term Loan B, 4.25%, 5/04/20   1,995   1,999,987  
Obsidian Natural Gas Trust, Term Loan, 7.00%, 11/02/15   1,800   1,809,370  
Pacific Drilling S.A., Term Loan B, 4.50%, 5/30/18   2,430   2,439,866  
Panda Temple Power LCC, Term Loan B, 7.25%, 4/03/19   1,560   1,593,150  
Philadelphia Energy Solutions LLC, Term Loan B, 6.25%, 4/04/18   2,585   2,630,237  
Power Team Services, LLC:  
  Delayed Draw Term Loan, 0.50%, 5/06/20   106   105,622  
  First Lien Term Loan, 4.25%, 5/06/20   844   844,976  
  Second Lien Term Loan, 8.25%, 11/06/20   470   467,650  
Ruby Western Pipeline Holdings LLC, Term Loan B, 3.50%, 3/27/20   1,930   1,939,650  
Samson Investment Co., Second Lien Term Loan, 6.00%, 9/25/18   1,285   1,291,746  
Teine Energy Ltd., Second Lien Term Loan, 7.50%, 5/09/19   1,685   1,689,213  
Tesoro Corp., Term Loan B, 2.52%, 1/29/16   2,365   2,388,650  
Total Safety US, Inc.:  
  First Lien Term Loan, 5.75%, 2/21/20   1,795   1,806,219  
                             

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 20139
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Oil, Gas & Consumable Fuels (concluded)  
Total Safety US, Inc. (concluded):  
  Second Lien Term Loan, 9.25%, 8/21/20 USD 693 $ 703,661  
Vantage Drilling Co.:  
  Term Loan, 6.25%, 10/26/17   3,334   3,364,981  
  Term Loan B, 5.75%, 3/22/19   1,510   1,527,622  
  
  37,239,163  
 
Paper & Forest Products — 0.2%  
NewPage Corp., Exit Term Loan, 7.75%, 12/21/18   1,385   1,412,700  
 
Pharmaceuticals — 4.3%  
Aptalis Pharma, Inc., Term Loan B, 5.50%, 2/10/17   4,862   4,875,894  
Par Pharmaceutical, Term Loan B, 4.25%, 9/30/19   4,701   4,706,140  
Pharmaceutical Product Development, Inc., Term Loan B, 4.25%, 12/05/18   4,796   4,827,671  
Quintiles Transnational Corp., Term Loan B, 4.50%, 6/08/18   2,647   2,672,570  
RPI Finance Trust, Incremental Tranche 2, 4.00%, 11/09/18   398   399,145  
Valeant Pharmaceuticals International, Inc.:  
  Term Loan C1, 3.50%, 12/11/19   2,693   2,707,982  
  Term Loan D1, 3.50%, 2/13/19   2,963   2,977,544  
Warner Chilcott Corp.:  
  Incremental Term Loan B1, 4.25%, 3/15/18   420   422,636  
  Term Loan B1, 4.25%, 3/15/18   966   970,891  
  Term Loan B2, 4.25%, 3/15/18   342   344,035  
  
  24,904,508  
 
Professional Services — 2.0%  
Booz Allen Hamilton, Inc., Term Loan B, 4.50%, 7/31/19   2,806   2,824,615  
Emdeon, Inc., Term Loan B2, 3.75%, 11/02/18   3,265   3,285,107  
ON Assignment, Inc, Term Loan B, 3.50%, 4/30/20   1,150   1,156,095  
Sirva Worldwide, Inc., Term Loan, 7.50%, 3/27/19   1,860   1,846,050  
Truven Health Analytics, Inc., Term Loan B, 4.50%, 6/01/19   2,625   2,629,547  
  
  11,741,414  
 
Real Estate Investment Trusts (REITs) — 0.5%  
iStar Financial, Inc., Term Loan, 4.50%, 9/28/17   3,045   3,074,288  
 
    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Real Estate Management & Development — 1.6%  
Realogy Corp.:  
  Extended Letter of Credit, 4.45%, 10/10/16 USD 249 $ 251,518  
  Extended Term Loan, 4.50%, 3/05/20   9,000   9,080,640  
  Letter of Credit, 6.20%, 10/10/13   92   91,446  
  
  9,423,604  
 
Road & Rail — 0.4%  
Genesee & Wyoming, Inc., Term Loan A, 2.19%, 9/29/17   1,153   1,155,573  
Road Infrastructure Investment LLC, Term Loan B, 6.25%, 3/30/18   1,004   1,012,780  
  
  2,168,353  
 
Semiconductors & Semiconductor Equipment — 0.9%  
Freescale Semiconductor, Inc., Term Loan B4, 5.00%, 3/02/20   3,470   3,485,476  
NXP BV, Term Loan C, 4.75%, 1/11/20   1,840   1,877,195  
  
  5,362,671  
 
Software — 4.0%  
Blackboard, Inc., Term Loan B2, 6.25%, 10/04/18   496   503,914  
CompuCom Systems, Inc., Term Loan B, 4.25%, 5/08/20   875   878,281  
Evertec, Inc., Term Loan B, 3.50%, 4/15/20   1,070   1,067,057  
GCA Services Group, Inc.:  
  Second Lien Term Loan, 9.25%, 10/22/20   975   989,625  
  Term Loan B, 5.25%, 11/01/19   1,916   1,927,542  
Infor US, Inc., Term Loan B2, 5.25% - 6.25%, 4/05/18   4,797   4,842,165  
Kronos, Inc., Second Lien Term Loan, 9.75%, 4/30/20   1,505   1,572,725  
RP Crown Parent LLC, First Lien Term Loan, 6.75%, 12/21/18   1,561   1,582,069  
Sophia LP, Term Loan B, 4.50%, 7/19/18   2,751   2,768,485  
SS&C Technologies, Inc.:  
  Term Loan B-1, 5.00%, 6/07/19   3,427   3,443,826  
  Term Loan B-2, 5.00%, 6/07/19   354   356,258  
StoneRiver Holdings, Inc.:  
  First Lien Term Loan, 4.75%, 11/20/19   1,975   1,975,829  
  Second Lien Term Loan, 8.75%, 11/20/20   980   980,000  
  
  22,887,776  
 
                             

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 201310
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Specialty Retail — 7.0%  
Academy Ltd., Term Loan, 4.50%, 8/03/18 USD 3,456 $ 3,486,003  
Atlantic Aviation FBO Inc., Term Loan B, 3.25%, 5/20/20   580   580,545  
Bass Pro Group LLC, Term Loan, 4.00%, 11/20/19   2,646   2,657,037  
Burlington Coat Factory Warehouse Corp., Term Loan B1, 5.50%, 2/23/17   620   623,238  
David's Bridal, Inc., Term Loan B, 5.00%, 10/11/19   3,700   3,721,596  
Equinox Holdings, Inc, Repriced Term Loan B, 4.25%, 1/31/20   1,965   1,977,281  
The Gymboree Corp., Initial Term Loan, 5.00%, 2/23/18   161   157,090  
Harbor Freight Tools USA, Inc., Term Loan B, 6.50%, 11/14/17   1,990   2,016,489  
Jo-Ann Stores, Inc., Term Loan, 4.00%, 3/16/18   1,270   1,278,524  
Leslie's Poolmart, Inc., Term Loan B, 5.25%, 10/16/19   3,197   3,225,770  
Michaels Stores, Inc., Term Loan, 3.75%, 1/28/20   2,955   2,967,529  
Party City Holdings, Inc., Term Loan B, 4.25%, 7/29/19   5,265   5,266,316  
PETCO Animal Supplies, Inc., Term Loan, 4.00%, 11/24/17   3,414   3,443,452  
Reddy Ice Corp.:  
  First Lien Term Loan, 6.75% - 7.75%, 3/28/19   2,495   2,504,356  
  Second Lien Term Loan, 10.75%, 11/01/19   1,195   1,195,000  
SRAM LLC, Term Loan B, 4.00% - 5.25%, 6/07/18   847   847,688  
Things Remembered, Inc., Term Loan B, 8.00%, 5/24/18   1,727   1,718,601  
Toys ‘R’ Us Delaware, Inc.:  
  Incremental Term Loan B2, 5.25%, 5/25/18   796   788,292  
  Term Loan B3, 5.25%, 5/25/18   165   163,463  
The Yankee Candle Co., Inc., Term Loan B, 5.25%, 4/02/19   1,704   1,704,776  
  
  40,323,046  
 
Textiles, Apparel & Luxury Goods — 1.4%  
Ascend Performance Materials LLC, Term Loan B, 6.75%, 4/10/18   3,995   4,014,624  
PVH Corp., Term Loan B, 3.25%, 2/13/20   1,645   1,651,991  
Wolverine Worldwide, Inc., Term Loan B, 4.00%, 7/31/19   2,149   2,169,163  
  
  7,835,778  
 
    Par
(000)		   Value  
Floating Rate Loan Interests (b)  
 
Thrifts & Mortgage Finance — 0.6%  
Insight Global, Inc., First Lien Term Loan, 6.00%, 10/31/19 USD 1,955 $ 1,969,763  
Ocwen Financial Corp., Term Loan, 5.00%, 2/15/18   1,645   1,664,197  
  
  3,633,960  
 
Trading Companies & Distributors — 0.4%  
WESCO Distribution, Inc., Term Loan B, 4.50%, 12/12/19   2,199   2,212,289  
 
Wireless Telecommunication Services — 2.1%  
Cricket Communications, Inc., Term Loan, 4.75%, 10/10/19   2,130   2,140,311  
Light Tower Fiber LLC, First Lien Term Loan, 4.50%, 4/13/20   2,690   2,711,870  
Vodafone Americas Finance 2, Inc. (h):  
  PIK Term Loan, 6.88%, 8/11/15   5,870   5,943,773  
  PIK Term Loan B, 6.25%, 7/11/16   1,238   1,268,437  
  
  12,064,391  
 
Total Floating Rate Loan Interests – 132.2%   762,330,843  




 

Other Interests (i)   Beneficial Interest
(000)		      
   
Auto Components — 0.0%  
Intermet Liquidating Trust Class A (c)   256   —  
 
Chemicals — 0.0%  
Wellman Holdings, Inc., Litigation Trust Certificate (c)   9,750   98  
 
Diversified Financial Services — 0.2%  
J.G. Wentworth LLC Preferred Equity Interest (c)   1   1,000,808  
 
Hotels, Restaurants & Leisure — 0.0%  
Buffets, Inc.   360   4  
 
Household Durables — 0.3%  
Stanley Martin, Class B Membership Units (c)   1   1,633,750  
 
Total Other Interests – 0.5%   2,634,660  
                             

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 201311
 
Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

   
Shares		   Value  
Preferred Securities  
 
Diversified Financial Services — 0.4%  
GMAC Capital Trust I, Series 2, 8.13%, 2/15/40 (b)   77,100 $ 2,044,572  
 




 

Warrants (j)  
 
Chemicals — 0.0%  
GEO Specialty Chemicals, Inc. (Expires 3/31/15)   143,928   107,946  
 
Software — 0.0%  
Bankruptcy Management Solutions, Inc. (Expires 9/28/17)   358   —  
HMH Holdings/EduMedia (Issued/Exercisable 3/09/10, 19 Shares for 1 Warrant, Expires 6/22/19, Strike Price $42.27)   2,406   —  
  
  —  
 
Total Warrants – 0.0%   107,946  
 
Total Long-Term Investments
(Cost – $856,422,356) – 149.2% 		  860,083,826  




 

   
Shares		   Value  
Short-Term Securities  
 
Money Market Funds — 2.0%  
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.06% (k)(l)   11,736,349 $ 11,736,349  
 
Total Short-Term Securities
(Cost – $11,736,349) – 2.0% 		  11,736,349  




 

Options Purchased  
 
Total Options Purchased
(Cost – $43,022) – 0.0% 		  —  
 
Total Investments (Cost - $868,201,727*) – 151.2% 871,820,175  
Liabilities in Excess of Other Assets – (51.2)%   (295,053,253)  
  
Net Assets – 100.0% $ 576,766,922  
  
 
* As of May 31, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:  
  Tax cost $ 867,354,322  
  
  Gross unrealized appreciation $ 19,085,734  
  Gross unrealized depreciation   (14,619,881)  
 
Net unrealized appreciation $ 4,465,853  
  
                     
   
 

Notes to Schedule of Investments

  
(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.  
(b) Variable rate security. Rate shown is as of report date.  
(c) Non-income producing security.  
(d) When-issued security. Unsettled when-issued transactions were as follows:  
   
 
  Counterparty   Value   Unrealized
Depreciation		  
 
  Goldman Sachs Group, Inc.   $ 3,048,200 $ (41,800)  
                     
 
(e) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.  
(f) Convertible security.  
(g) Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.  
(h) Represents a payment-in-kind security which may pay interest/dividends in additional par/shares.  
(i) Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.  
(j) Warrants entitle the Fund 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 of the warrants, if any.  
                                   

 

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 201312
 
Consolidated Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

 

(k) Investments in issuers considered to be an affiliate of the Fund during the period ended May 31, 2013, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:  
   
  Affiliate   Shares
Held at
August 31, 2012		   Net
Activity		   Shares
Held at
May 31, 2013		   Income  
  BlackRock Liquidity Funds, TempFund, Institutional Class   1,779,337   9,957,012   11,736,349 $ 2,622  
                     
(l) Represents the current yield as of report date.  

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:    
CAD Canadian Dollar  
DIP Debtor-In-Possession  
EUR Euro  
GBP British Pound  
USD US Dollar  
     
     
• Foreign currency exchange contracts as of May 31, 2013 were as follows:  
  Currency
Purchased		 Currency
Sold		 Counterparty Settlement
Date		 Unrealized
 Appreciation
(Depreciation)		  
  GBP   2,826,000   USD   4,298,728   Citigroup, Inc.   7/17/13 $ (6,150)  
  GBP   3,155,000   USD   4,880,264   Goldman Sachs Group, Inc.   7/17/13   (87,949)  
  USD   3,727,768   CAD   3,805,000   Barclays Plc   7/17/13   61,435  
  USD   4,392,212   GBP   2,869,000   Barclays Plc   7/17/13   34,319  
  USD   4,232,730   GBP   2,815,000   Citigroup, Inc.   7/17/13   (43,140)  
  USD   4,804,821   GBP   3,150,000   Goldman Sachs Group, Inc.   7/17/13   20,101  
  USD   8,754,936   EUR   6,707,000   Barclays Plc   7/23/13   35,133  
  USD   2,216   EUR   1,694   Citigroup, Inc.   7/23/13   14  
  USD   346,158   EUR   263,000   Goldman Sachs Group, Inc.   7/23/13   4,231  
  Total $ 17,994  
     
• Over-the-counter options purchased as of May 31, 2013 were as follows:  
  Description Counterparty Put/
Call		 Strike
Price		 Expiration
Date		 Contracts Market
Value		  
  Marsico Parent Superholdco LLC Goldman Sachs Group, Inc. Call USD 942.86 12/14/19 44   —      
     
                                                                                     

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 201313
 

Consolidated Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

 

• Credit default swaps - sold protection outstanding as of May 31, 2013 were as follows:  
     
  Issuer/Index   Receive
Fixed
Rate		   Counterparty   Expiration
Date		   Credit Rating1   Notional
Amount
(000)2		   Unrealized Appreciation (Depreciation)  
  Caesars Entertainment Operating Co., Inc.   5.00%   JPMorgan Chase & Co   12/20/15   CCC-   USD   538 $ 51,034  
  Caesars Entertainment Operating Co., Inc.   5.00%   JPMorgan Chase & Co.   12/20/15   CCC-   USD   149   7,804  
  Goodyear Tire & Rubber Co.   5.00%   Barclays Plc.   12/20/15   CCC-   USD   1,112   23,021  
  Caesars Entertainment Operating Co., Inc.   5.00%   Barclays Plc.   3/20/16   CCC-   USD   2,000   (41,761)  
  Caesars Entertainment Operating Co., Inc.   5.00%   Goldman Sachs Group, Inc.   3/20/17   CCC-   USD   389   (25,090)  
  Caesars Entertainment Operating Co., Inc.   5.00%   Deutsche Bank AG   6/20/17   CCC-   USD   593   (34,248)  
  Total $ (19,240)  
1 Using Standard & Poor's rating of the issuer.  
2 The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement.  
     
• For Fund compliance purposes, the Fund's industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Fund management. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.  
   
• Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques 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 or liabilities that the Fund has the ability to access  
   
  • 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)  
   
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety.  
   
Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Fund's policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. 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 is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of investments and derivative financial instruments, please refer to the Fund's most recent financial statements as contained in its semi-annual report.  
                                                                           

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 201314
 
Consolidated Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

 

   
The following tables summarize the Fund's investments and derivative financial instruments categorized in the disclosure hierarchy as of May 31, 2013:  
  Level 1   Level 2   Level 3   Total  
Assets:  
Investments:  
  Long Term Investments  
  Asset-Backed Securities   —   — $ 20,763,109 $ 20,763,109  
  Common Stocks $ 1,768,443 $ 2,972,031   1,525,371   6,265,845  
  Corporate Bonds   —   61,930,297   4,006,554   65,936,851  
  Floating Rate Loan Interests   —   688,381,859   73,948,984   762,330,843  
  Other Interests   —   —   2,634,660   2,634,660  
  Preferred Securities   2,044,572   —   —   2,044,572  
  Warrants   —   —   107,946   107,946  
  Short-Term Securities   11,736,349   —   —   11,736,349  
Total $ 15,549,364 $ 753,284,187 $ 102,986,624 $ 871,820,175  
                                                                           

 

  Level 1   Level 2   Level 3   Total
Derivative Financial Instruments1
Assets:  
     Credit contracts   — $ 81,859   — $ 81,859
     Foreign currency exchange Contracts

   —   155,233   —   155,233
Liabilities:  
     Credit contracts   —   (101,099)   —   (101,099)

     Foreign currency exchange Contracts

   —   (137,239)   —   (137,239)
Total   — $ (1,246)   — $ (1,246)
                                 

 

1 Derivative financial instrument are swaps and foreign currency exchange contracts.  Swaps and foreign currency exchange contracts are valued at the unrealized appreciation/depreciation on the instrument.

 

Certain of the Fund’s assets and liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of May 31, 2013, such assets and liabilities are categorized within the disclosure hierarchy as follows:
  Level 1   Level 2   Level 3   Total
Assets:
  Cash $ 3,113,545   —   — $ 3,113,545
  Foreign currency at value   148,500   —   —   148,500
 

Cash pledged as collateral for
      swaps

   620,000   —   —   620,000
Liabilities:
    Loans payable — $ (229,000,000)   —   (229,000,000)
Total $ 3,882,045 $ (229,000,000)   — $ (225,117,955)
 
There were no transfers between Level 1 and Level 2 during the period ended May 31, 2013.

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 201315
 
Consolidated Schedule of Investments (continued)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

 

 
A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:
 

 

 

 Asset-Backed Securities

Common

Stocks

Corporate

Bonds

Floating

Rate Loan Interests

Other

Interests

 Warrants Total
Assets: $7,043,642 $6,034 $2,355,204 $23,180,519 $835,765 $              — $33,421,164

Opening Balance, as of
August 31, 2012

Transfers into Level 31

 — 215 — 4,939,411 — — 4,939,626

Transfers out of Level 32

 — — — (7,035,644) — — (7,035,644)

Accrued discounts/premiums

 70,795 — 67,823 170,864 — — 309,482

Net realized gain (loss)

 270,089 — 291,984 96,717 — — 658,790

Net change in unrealized appreciation/Depreciation3

 1,383,861 (5,447,016) (156,088) 1,701,319 (909,077) 107,942 (3,319,059)
Purchases 15,960,832 6,966,138 3,200,581 77,467,798 4,118,069 4 107,713,422
Sales (3,966,110) — (1,752,950) (26,572,000) (1,410,097) — (33,701,157)

Closing Balance, as of

May 31, 2013

 $20,763,109 $1,525,371 $4,006,554 $73,948,984 $2,634,660 $107,946 $102,986,624

 

1 Transfers into and transfers out of Level 3 represent the values as of the beginning of the reporting period.
2 Transfers into and transfers out of Level 3 represent the values as of the beginning of the reporting period. As of August 31, 2012, the Fund used significant unobservable inputs in determining the value of certain investments. As of May 31, 2013, the Fund used observable inputs in determining the value of the same investments. As a result, investments with a beginning of period value of $7,035,644 transferred from Level 3 to Level 2 in the disclosure hierarchy.
3 The change in unrealized appreciation/depreciation on investments still held as of May 31, 2013 was $(4,228,949).

 

 

The following table summarizes the valuation techniques used and unobservable inputs utilized by the BlackRock Global Valuation Methodologies Committee (“Global Valuation Committee”) to determine the value of certain of the Fund’s Level 3 investments as of May 31, 2013. The table does not include Level 3 investments with values based upon unadjusted third party pricing information. Level 3 investments valued using third party pricing information was $93,556,806. A significant change in such third party pricing information could result in a significantly lower or higher value of such Level 3 investments.

 

 

 Value

Valuation Techniques

Unobservable Inputs1

 Range of Unobservable Inputs Utilized 
Assets:          
Common Stocks $          18,125 Market Comparable Companies EBITDA Multiple 5.50x  
  1,413,743 Market Comparable Companies Offshore EBITDA Multiple 8.75x  
    Market Comparable Companies Onshore EBITDA Multiple 4.75x  
Corporate Bonds 3,086,994 Market Comparable Companies EBITDA Multiple 5.50x  
Floating Rate Loan Interests2

 

1,420,659

 

Adjusted Third Party Price

 

Illiquidity Discount

 

1.00%

  
           
  1,718,601 Market Comparable Yield Analysis Yield 8.13%  
Other Interests3 1,663,750 Discounted Cash Flow Perpetuity Growth Rate 3.50%  
      Free Cash Flow $14.80-$35.204  
      Weighted Cost of Capital 11.30%  
Warrants 107,946 Market Comparable Companies EBITDA Multiple 5.50x  
Total $    9,429,818        
               

 

 

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 201316
 
Consolidated Schedule of Investments (concluded)

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

 

1 A change to the unobservable input may result in a significant change to the value of the investment as follows:

 

Unobservable Input   Impact to Value if Input Increases   Impact to Value if Input Decreases
EBITDA Multiple Increase Decrease
Offshore EBITDA Multiple Increase Decrease
Onshore EBITDA Multiple Increase Decrease
Illiquidity Discount Decrease Increase
Yield Decrease Increase
Perpetuity Growth Rate Increase Decrease
Free Cash Flow Increase Decrease
Weighted Cost of Capital Decrease Increase

 

 

2 For the period ended May 31, 2013, the valuation technique for certain investments classified as floating rate loan interests changed to an adjusted third party price. The investment was previously valued using acquisition cost. A third party price became available for this investment. The third party price was adjusted due to illiquidity which is considered to be a more relevant measure of fair value for this investment.

 

3 For the period ended May 31, 2013, the valuation technique for other interests changed from a market approach to an income approach. Market information previously utilized to determine fair value under the market approach no longer applied to this investment. Therefore, the income approach is considered to be a more relevant measure of fair value for this investment.

 

4 Amount is in millions.

BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC.MAY 31, 201317
 

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 Floating Rate Income Strategies Fund, Inc.

 

By: John M. Perlowski

John M. Perlowski

Chief Executive Officer (principal executive officer) of

BlackRock Floating Rate Income Strategies Fund, Inc.

 

Date: July 25, 2013

 

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 Floating Rate Income Strategies Fund, Inc.

 

Date: July 25, 2013

 

By: /s/ Neal J. Andrews

Neal J. Andrews

Chief Financial Officer (principal financial officer) of

BlackRock Floating Rate Income Strategies Fund, Inc.

 

Date: July 25, 2013