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Western Asset Municipal Partners Fund Inc. Portfolio Composition As Of December 31, 2012

Western Asset Municipal Partners Fund Inc. (NYSE: MNP) announces its portfolio composition as of December 31, 2012.

Investment Objective: The Fund’s primary investment objective is to seek a high level of current income which is exempt from regular federal income taxes, consistent with the preservation of capital. As a secondary investment objective, the Fund intends to enhance portfolio value by purchasing tax-exempt securities that, in the opinion of the investment manager, may appreciate in value relative to other similar obligations in the marketplace.

Portfolio Composition*:

Asset Allocation



Variable Rate Demand Notes


Top Ten Municipal Sectors
Health Care 15.5%
Transportation 14.6%
Special Tax Obligation 12.0%
Local 10.6%
Industrial Revenue 9.8%
Power 8.3%
Water & Sewer 8.0%
Other 6.0%
Lease Backed 5.1%
State 4.5%

Credit Quality Allocation**
AAA 11.5%
AA 41.3%
A 39.2%
BBB 6.7%
B 0.8%
Not Rated 0.5%

Call Statistics
Not Callable 19.3%
2013 3.7%
2014 3.1%
2015 5.9%
2016 6.1%
2017 10.8%
2018 4.8%
2019 3.7%
2020 16.4%
2021 14.7%
2022 11.5%

Average Life (years)

Effective Duration (years)

Average Coupon (%)

Subject to AMT (%)

Portfolio Statistics:

Inception Date
January 29, 1993

Inception Price

Total Assets***

Net Assets

Preferred Shares****

Market Price


(Daily NAV is available on market quotation systems using the symbol XMNPX)

Distribution Rate

$0.0700 per share


Monthly (Declared quarterly, paid monthly)


Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time. Negative allocations and allocations in excess of 100%, if any, are primarily due to the Fund's unsettled trade activity.


Credit quality is a measure of a bond issuer's ability to repay interest and principal in a timely manner. The credit ratings shown are based on each portfolio security's rating as provided by Standard and Poor's, Moody's Investors Service and/or Fitch Ratings, Ltd. and typically range from AAA (highest) to D (lowest). For this purpose, if two or more of the agencies have assigned differing ratings to a security, the highest rating is used. Securities that are unrated by all three agencies are reflected as such. The credit quality of the investments in the Fund's portfolio does not apply to the stability or safety of the Fund. These ratings are updated monthly and may change over time. Please note, the Fund itself has not been rated by an independent rating agency.


The difference between total assets and net assets, if any, is due primarily to the Fund’s use of preferred shares; net assets do not include preferred shares. The Fund may employ leverage in the form of preferred stock and/or other instruments. When the Fund engages in transactions that have a leveraging effect on the Fund’s portfolio, the value of the Fund will be more volatile and all other risks will tend to be compounded.


Percentages based on total assets.

Western Asset Municipal Partners Fund Inc., a diversified closed-end investment management company, is advised by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc. and is sub-advised by Western Asset Management Company, an affiliate of the adviser.

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