Fitch: Pioneer Fund Preferred Shares PIF

The following outstanding shares from Pioneer Investment's fund Pioneer High Income Trust (NYSE: PHT) have been fully redeemed and are paid in full, according to Fitch Ratings:

--$50,500,000 of AMPS, series W to 'PIF' from 'AAA';

--$50,000,000 of AMPS, series TH to 'PIF' from 'AAA';

--$50,500,000 of AMPS, series M to 'PIF' from 'AAA';

PHT has redeemed all of its outstanding auction market preferred shares (AMPS). The fund's Board of Trustees authorized a separate third-party debt facility and the redemption of the fund's outstanding AMPS. The facility will be used to replace the fund's outstanding AMPS as a form of leverage.

Additional information is available at 'www.fitchratings.com'.

The sources of information used to assess these ratings were the public domain, and Pioneer Investments.

Applicable Criteria and Related Research:

--'Rating Closed-End Fund Debt and Preferred Stock' (Aug. 14, 2013);

--'2014 Outlook: Closed-End Funds' (Jan. 14, 2014).

Applicable Criteria and Related Research:

Rating Closed-End Fund Debt and Preferred Stock

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=716220

2014 Outlook: Closed-End Funds (Structural Protections Support Rating Stability)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=726592

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=824344

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