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UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-22126

Name of Fund: BlackRock Defined Opportunity Credit Trust (BHL)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock
Defined Opportunity Credit Trust, 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: 08/31/2010

Date of reporting period: 11/30/2009

Item 1 – Schedule of Investments

BlackRock Defined Opportunity Credit Trust (BHL)         
Schedule of Investments November 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
Industry  Common Stocks      Shares  Value 
Capital Markets - 0.2%  E*Trade Financial Corp. (a)      163,000  $ 267,320 
  Total Common Stocks - 0.2%        267,320 
        Par   
  Corporate Bonds      (000)   
Aerospace & Defense - 0.2%  L-3 Communications Corp., 5.88%, 1/15/15  USD  300  294,000 
Airlines - 0.2%  Delta Air Lines, Inc., Series B, 9.75%, 12/17/16  300  300,000 
Auto Components - 0.0%  Delphi International Holdings Unsecured,       
  12.00%, 10/06/14      13  12,664 
Chemicals - 0.2%  Nalco Co., 8.25%, 5/15/17 (b)      250  260,625 
Commercial Services & Supplies - 0.6%  Clean Harbors, Inc., 7.63%, 8/15/16 (b)    400  402,500 
  The Geo Group, Inc., 7.75%, 10/15/17 (b)    250  253,750 
          656,250 
Consumer Finance - 0.5%  Inmarsat Finance Plc, 7.38%, 12/01/17 (b)    575  580,750 
Containers & Packaging - 1.1%  Berry Plastics Escrow LLC, 8.25%, 11/15/15 (b)  700  691,250 
  Crown Americas LLC, 7.63%, 5/15/17 (b)    280  285,600 
  Owens-Brockway Glass Container, Inc.,       
  7.38%, 5/15/16      280  283,500 
          1,260,350 
Diversified Financial Services - 0.8%  FCE Bank Plc, 7.13%, 1/16/12    EUR  600  860,386 
  FCE Bank Plc, 7.13%, 1/15/13      50  70,197 
          930,583 
Diversified Telecommunication  Cincinnati Bell, Inc., 8.25%, 10/15/17    USD  500  496,250 
Services - 1.2%  PAETEC Holding Corp., 8.88%, 6/30/17    250  248,125 
  Qwest Corp., 8.38%, 5/01/16 (b)      640  668,800 
          1,413,175 
Food Products - 0.4%  Smithfield Foods, Inc., 10.00%, 7/15/14 (b)    440  460,900 
Health Care Providers &  DaVita, Inc., 6.63%, 3/15/13      405  401,962 
Services - 0.4%  Vanguard Health Holding Co. I, LLC, 11.25%,     
  10/01/15      105  110,250 
          512,212 
Hotels, Restaurants & Leisure - 0.8%  American Real Estate Partners LP, 7.13%, 2/15/13  625  612,500 
  MGM Mirage, 11.13%, 11/15/17 (b)      240  262,800 
          875,300 
Household Durables - 0.7%  Beazer Homes USA, Inc., 12.00%, 10/15/17 (b)  715  772,200 
IT Services - 0.3%  SunGard Data Systems, Inc., 4.88%, 1/15/14  383  352,839 
Independent Power Producers &  Calpine Construction Finance Co. LP, 8.00%,       
Energy Traders - 2.5%  6/01/16 (b)      1,165  1,170,825 
  NRG Energy, Inc., 7.25%, 2/01/14      1,700  1,714,875 
          2,885,700 
Media - 1.4%  Cablevision Systems Corp., Series B, 8.00%,       
  4/15/12      710  747,275 
  EchoStar DBS Corp., 7.00%, 10/01/13      425  425,000 
  UPC Germany GmbH, 8.13%, 12/01/17 (b)    500  500,000 
          1,672,275 
Paper & Forest Products - 2.8%  NewPage Corp., 11.38%, 12/31/14 (b)    3,080  3,033,800 
  Verso Paper Holdings LLC, 11.50%, 7/01/14 (b)  200  218,000 
          3,251,800 
Textiles, Apparel & Luxury  Levi Strauss & Co., 8.63%, 4/01/13    EUR  450  658,804 
Goods - 0.6%           

1

BlackRock Defined Opportunity Credit Trust (BHL)       
Schedule of Investments November 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Corporate Bonds    (000)  Value 
Wireless Telecommunication  Cricket Communications, Inc., 7.75%,       
Services - 1.3%  5/15/16 (b)             USD  1,500  $ 1,481,250 
  Total Corporate Bonds - 16.0%      18,631,677 
  Floating Rate Loan Interests (c)       
Aerospace & Defense - 0.8%  Avio SpA, Facility B2, 2.36%, 12/15/14    342  308,685 
  Avio SpA, Facility C2, 2.98%, 12/14/15    365  329,747 
Hawker Beechcraft Acquisition Co. LLC, LC
  Facility Deposit, 0.18%, 3/26/14    23  17,417 
Hawker Beechcraft Acquisition Co. LLC, Term
  Loan, 2.23% - 2.28%, 3/26/14    394  294,344 
        950,193 
Auto Components - 3.2%  Allison Transmission, Inc., Term Loan,       
  3.03% - 3.04%, 8/07/14    2,166  1,895,204 
Dana Holding Corp., Term Advance, 7.25%,
  1/31/15    1,166  1,040,463 
  Lear Corp., Term Loan B, 7.50%, 10/14/14  759  760,506 
        3,696,173 
Automobiles - 0.4%  Ford Motor Co., Term Loan, 3.24% - 3.29%,     
  12/15/13    496  434,712 
Beverages - 0.9%  Inbev NV Bridge Loan, 1.43%, 7/15/11    1,000  993,333 
Building Products - 1.9%  Building Materials Corp. of America, Term       
  Loan Advance, 3.00%, 2/22/14    739  668,821 
Goodman Global Holdings Term Loan B, 6.25%,
  2/13/14    910  909,242 
  Momentive Performance Materials       
(Blitz 06-103 GmbH), Tranche B-2 Term Loan,
  2.69%, 12/04/13                 EUR  496  655,136 
        2,233,199 
Capital Markets - 0.4%  Nuveen Investments, Inc., Term Loan, 3.28%,     
  11/13/14                 USD  523  436,667 
Chemicals - 6.1%  Ashland Inc., Term B Borrowing, 7.65%, 5/13/14  584  592,788 
  Cognis GmbH, Facility C, 2.30%, 9/15/13    1,000  915,000 
  Gentek, Inc. Term Loan B, 7.00%, 10/20/14  500  502,083 
Huish Detergents Inc., Tranche B Term Loan,
  1.99%, 4/26/14    235  222,751 
Matrix Acquisition Corp. (MacDermid, Inc.),
  Tranche B Term Loan, 2.24%, 4/12/14    1,552  1,342,125 
  Nalco Co., Term Loan, 6.50%, 5/13/16    1,219  1,226,493 
PQ Corp. (fka Niagara Acquisition, Inc.), Loan
  (Second Lien), 6.74%, 7/30/15    600  491,568 
  PQ Corp. (fka Niagara Acquisition, Inc.),       
Original Term Loan (First Lien), 3.49% - 3.54%,
  7/30/14    1,236  1,087,892 
  Solutia Inc., Loan, 7.25%, 2/28/14    734  742,729 
        7,123,429 
Commercial Services & Supplies - 4.1%  ARAMARK Corp., Facility Letter of Credit,       
  0.22%, 1/26/14    119  107,722 

2

BlackRock Defined Opportunity Credit Trust (BHL)       
Schedule of Investments November 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Floating Rate Loan Interests (c)    (000)  Value 
  ARAMARK Corp., U.S. Term Loan, 2.11% -       
  2.16%, 1/26/14                 USD  1,817  $ 1,637,981 
  Alliance Laundry Systems LLC, Term Loan,       
  2.75% - 2.78%, 1/27/12    557  525,967 
Casella Waste Systems, Inc., Term Loan B,
  7.00%, 4/08/14    499  499,997 
Johnson Diversey, Inc., Term Loan B, 5.50%,
  11/20/15    500  498,750 
Synagro Technologies, Inc., Term Loan (First
  Lien), 2.23% - 2.24%, 4/02/14    985  794,065 
  West Corp., Term Loan B3, 7.25%, 11/08/13  749  743,742 
        4,808,224 
Computers & Peripherals - 0.2%  Intergraph Corp., Initial Term Loan (First Lien),     
  2.26%, 5/29/14    250  233,125 
Consumer Finance - 1.0%  DaimlerChrysler Financial Services Americas LLC     
  Term Loan (First Lien), 4.24%, 8/03/12    1,150  1,104,958 
Containers & Packaging - 1.6%  Graham Packaging Co., LP, Term Loan B,       
  2.50% - 2.56%, 10/07/11    707  682,601 
Smurfit Kappa Acquisitions (JSG), Term B1,
  3.74% - 4.73%, 7/16/14                 EUR  407  591,987 
Smurfit Kappa Acquisitions (JSG), Term C1
  Loan Facility, 4.01% - 4.39%, 7/16/15    399  579,533 
        1,854,121 
Diversified Consumer Services - 2.9%  Coinmach Laundry Corp., Delayed Draw Term     
  Loan, 3.24% - 3.27%, 11/14/14                 USD  249  212,057 
Coinmach Service Corp., Term Loan, 3.24% -
  3.43%, 11/14/14    1,477  1,255,827 
  Laureate Education, Term Loan B, 7.00%, 12/31/14  2,000  1,927,500 
        3,395,384 
Diversified Financial Services - 3.0%  CIT Group, Term Loan A, 9.50%, 1/20/12    1,725  1,749,438 
  Reynolds Group, Term Loan B, 6.25%, 10/28/15  1,700  1,695,750 
        3,445,188 
Diversified Telecommunication  Cavtel Holdings, LLC, Term Loan, 10.50%,       
Services - 3.6%  12/31/12    225  177,188 
  Hawaiian Telcom Communications, Inc.,       
  Tranche C Term Loan, 4.75%, 5/30/14    508  362,515 
Integra Telecom Holdings, Inc., Term Loan
  (First Lien), 10.50%, 8/31/13    1,967  1,954,264 
  PAETEC Holding Corp., Replacement Term       
  Loan, 2.73%, 2/28/13    193  181,060 
Wind Finance SL SA, Facility (Second Lien),
  7.68%, 12/17/14                 EUR  1,000  1,510,359 
        4,185,386 
Electrical Equipment - 0.5%  Baldor Electric Co., Term Loan, 5.25%,       
  1/31/14                 USD  550  545,657 

3

BlackRock Defined Opportunity Credit Trust (BHL)         
Schedule of Investments November 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
Industry  Floating Rate Loan Interests (c)      (000)  Value 
Electronic Equipment, Instruments &  Flextronics International Ltd., A Closing Date       
Components - 2.2%  Loan, 2.49% - 2.54%, 10/01/14    USD  304  $ 278,381 
  Flextronics International Ltd., Delay Draw       
  Term Loan, 2.53%, 10/01/12      87  79,994 
Flextronics International Ltd., Term Loan B,
  2.54%, 10/01/12      286  267,632 
L-1 Identity Solutions Operating Co., Term
  Loan, 6.75%, 8/05/13      669  668,908 
Matinvest 2 SAS/Butterfly Wendel U.S., Inc.
  (Deutsche Connector), B-2 Facility, 2.78%, 6/22/14  886  677,621 
Matinvest 2 SAS/Butterfly Wendel U.S., Inc.
  (Deutsche Connector), C-2 Facility, 3.03%, 6/22/15  732  559,890 
          2,532,426 
Energy Equipment & Services - 0.3%  Dresser, Inc., Term Loan B, 2.52%, 5/04/14    413  379,011 
Food & Staples Retailing - 2.8%  AB Acquisitions Topco 2 Ltd. (fka Alliance       
  Boots), Facility B1, 3.52%, 7/09/15    GBP  500  719,913 
  Pierre Foods, Term Loan B, 8.50%, 9/23/14  USD  475  477,375 
  Pilot Travel Centers, Term Loan B, 0.00%,       
  11/18/15      1,000  1,000,833 
Rite Aid Corp., Tranche 4 Term Loan, 9.50%,
  6/10/15      900  925,500 
WM. Bolthouse Farms, Inc., Term Loan (First
  Lien), 5.50%, 12/16/12      183  177,194 
          3,300,815 
Food Products - 3.7%  Cloverhill Bakery, Delayed Draw Term Loan,       
  8.50%, 10/14/14      232  230,982 
  Cloverhill Bakery, Term Loan, 8.50%, 10/14/14    1,068  1,062,518 
Dole Food Co., Inc., Credit-Linked Deposit,
  0.28%, 4/12/13      127  128,016 
Dole Food Co., Inc., Tranche B Term Loan,
  8.00%, 4/12/13      222  223,206 
Solvest, Ltd. (Dole), Tranche C Term Loan,
  8.00%, 4/12/13      734  737,700 
Wm. Wrigley Jr. Co., Tranche B Term Loan,
  6.50%, 9/30/14      1,870  1,875,816 
          4,258,238 
Health Care Equipment & Supplies - 2.0%  Bausch & Lomb Inc., Delayed Draw Term Loan,       
  3.50% - 3.53%, 4/24/15      6  5,356 
Bausch & Lomb Inc., Parent Term Loan, 3.53%,
  4/24/15      27  25,365 
Biomet, Inc., Dollar Term Loan, 3.25% - 3.29%,
  3/25/15      1,319  1,246,595 
DJO Finance LLC (ReAble Therapeutics Finance
  LLC), Term Loan, 3.23% - 3.28%, 5/20/14    983  922,322 
Hologic, Inc., Tranche B Term Loan, 3.50%,
  3/31/13      108  105,576 
          2,305,214 

4

BlackRock Defined Opportunity Credit Trust (BHL)       
Schedule of Investments November 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Floating Rate Loan Interests (c)    (000)  Value 
Health Care Providers &  CCS Medical, Inc. (Chronic Care), Term Loan     
Services - 7.3%  (First Lien), 4.35%, 9/30/12 (a)(d)  USD  525  $ 274,750 
  CCS Medical Return of Capital, 0.00%,       
  9/30/11    175  91,583 
  CHS/Community Health Systems, Inc.,       
  Delayed Draw Term Loan, 2.51%, 7/25/14  140  128,016 
CHS/Community Health Systems, Inc., Funded
  Term Loan, 2.49% - 2.62%, 7/25/14    2,757  2,519,438 
Fresenius SE, Tranche B1 Term Loan, 6.75%,
  9/26/14    712  713,085 
Fresenius SE, Tranche B2 Term Loan, 6.75%,
  9/26/14    430  430,735 
  HCA Inc., Tranche A-1 Term Loan, 1.78%,     
  11/17/12    2,917  2,708,229 
Symbion, Inc., Tranche A Term Loan, 3.48%,
  8/23/13    473  415,028 
Symbion, Inc., Tranche B Term Loan, 3.48%,
  8/25/14    473  415,028 
Vanguard Health Holding Co. II, LLC (Vanguard
Health System, Inc.), Replacement Term Loan,
  2.49%, 9/23/11    856  828,419 
        8,524,311 
Health Care Technology - 0.2%  Sunquest Information Systems, Inc. (Misys Hospital     
  Systems, Inc.), Term Loan, 3.54%, 10/13/14  195  177,450 
Hotels, Restaurants & Leisure - 3.9%  BLB Worldwide Holdings, Inc. (Wembley, Inc.), First     
  Priority Term Loan, 4.75%, 7/18/11 (a)(d)  1,000  592,500 
Busch Entertainment Corp., Term Loan, 3.77%,
  5/05/16    1,000  1,000,250 
Harrah's Operating Co., Inc., Term Loan B-2,
  3.28%, 1/28/15    656  508,240 
  Harrah's Operating, Term Loan B, 9.50%,     
  10/31/16    750  725,812 
  Penn National Gaming, Inc., Term Loan B,     
  1.98% - 2.03%, 10/03/12    936  892,496 
QCE, LLC (Quiznos), Term Loan (First Lien),
  2.56%, 5/05/13    485  390,008 
  VML US Finance LLC (aka Venetian Macau), Term B     
  Delayed Draw Project Loan, 5.79%, 5/25/12  180  170,030 
  VML US Finance LLC (aka Venetian Macau), Term B     
  Funded Project Loan, 5.79%, 5/27/13    318  300,315 
        4,579,651 
Household Durables - 1.1%  Jarden Corp., Term Loan B3, 2.78%, 1/24/12  1,333  1,295,713 
Household Products - 0.2%  VI-JON, Inc. (VJCS Acquisition, Inc.), Tranche B     
  Term Loan, 2.24% - 2.25%, 4/24/14    307  287,982 
IT Services - 4.4%  Amadeus Global Travel Distribution SA, Term     
  Loan B, 2.24%, 5/22/15    955  887,284 
Amadeus Global Travel Distribution SA, Term
  Loan C, 2.74%, 5/22/16    955  887,284 

5

BlackRock Defined Opportunity Credit Trust (BHL)         
Schedule of Investments November 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par     
Industry  Floating Rate Loan Interests (c)    (000)    Value 
  Ceridian Corp., U.S. Term Loan, 3.24% -         
  3.28%, 11/09/14  USD  752  $ 648,509 
  First Data Corp., Initial Tranche B-2 Term         
  Loan, 3.03% - 3.04%, 9/24/14    1,024    850,612 
  First Data Corp., Initial Tranche B-3 Term         
  Loan, 3.03% - 3.04%, 9/24/14    984    815,770 
  SunGard Data Systems Inc. (Solar Capital Corp.),       
  Incremental Term Loan, 6.75%, 2/28/14    1,045    1,050,668 
          5,140,127 
Independent Power Producers & Energy  Dynegy Holdings Inc., Term Letter of Credit       
Traders - 2.1%  Facility Term Loan, 3.99%, 4/02/13    486    458,521 
Dynegy Holdings Inc., Tranche B Term Loan,
  3.99%, 4/02/13    39    37,005 
Texas Competitive Electric Holdings Co., LLC
(TXU), Initial Tranche B-3 Term Loan, 3.50% -
  3.78%, 10/10/14    2,669    1,971,039 
          2,466,565 
Industrial Conglomerates - 0.7%  Sequa Corp., Term Loan, 3.58% - 3.94%,         
  12/03/14    989    854,102 
Insurance - 0.6%  Alliant Holdings I, Inc., Term Loan, 3.28%,         
  8/21/14    734    664,021 
Internet & Catalog Retail - 0.2%  FTD Group, Inc., Tranche B Term Loan, 6.75%,       
  8/26/14    229    227,600 
Life Sciences Tools & Services - 0.9%  Life Technologies Corp., Term B Facility, 5.25%,       
  11/23/15    991    988,545 
Machinery - 2.7%  Accuride Term Loan, 6.00%, 1/31/12    460    456,550 
  LN Acquisition Corp. (Lincoln Industrial), Delayed       
  Draw Term Loan (First Lien), 2.79%, 7/11/14  254    205,594 
  LN Acquisition Corp. (Lincoln Industrial), Initial U.S.       
  Term Loan (First Lien), 2.79%, 7/11/14    659    533,522 
  Navistar Financial Corp., Tranche A Term         
  Loan, 2.25%, 3/27/10    898    883,842 
Navistar International Corp., Revolving Credit-
  Linked Deposit, 3.38% - 3.50%, 1/19/12    - (e)  2 
Navistar International Corp., Term Advance,
  3.50%, 1/19/12    - (e)  5 
Oshkosh Truck Corp., Term Loan B, 6.29% -
  6.33%, 12/06/13    1,004    1,000,186 
          3,079,701 
Media - 23.9%  Catalina Marketing Corp., Initial Term Loan,       
  2.99%, 10/01/14    720    668,077 
Cengage Learning Acquisitions, Inc. (Thomson
Learning), Tranche 1 Incremental Term Loan,
  7.50%, 7/03/14    1,895    1,864,405 
  Cequel Communications, LLC, Term Loan,         
  2.26% - 4.25%, 11/05/13    1,132    1,044,092 
Cequel Communications, LLC, Tranche B Term
  Loan (Second Lien), 6.26%, 5/05/14    791    787,255 

6

BlackRock Defined Opportunity Credit Trust (BHL)         
Schedule of Investments November 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
Industry  Floating Rate Loan Interests (c)      (000)  Value 
Charter Communications Operating, LLC, New
  Term Loan, 4.24% - 4.26%, 3/06/14    USD  1,280  $ 1,183,205 
  Charter Communications, Term Loan B1,       
  9.25%, 3/25/14      1,495  1,509,899 
  FoxCo Acquisition Subordinate, LLC, Term       
  Loan, 7.50%, 7/14/15      671  618,638 
  HMH Publishing Co. Ltd., Tranche A Term       
  Loan, 5.28%, 6/12/14      2,009  1,704,770 
Hanley-Wood, LLC (FSC Acquisition), Term
  Loan, 2.49% - 2.53%, 3/08/14      744  312,362 
  Harland Clarke Holdings Corp. (fka Clarke       
  American Corp.), Tranche B Term Loan,       
  2.73% - 2.78%, 6/30/14      523  429,569 
Insight Midwest Holdings, LLC, Term Loan B,
  2.29%, 4/07/14      500  466,785 
Intelsat Corp. (fka PanAmSat Corp.), Tranche
  B-2-A Term Loan, 2.74%, 1/03/14      325  301,057 
Intelsat Corp. (fka PanAmSat Corp.), Tranche
  B-2-B Term Loan, 2.74%, 1/03/14      325  300,965 
Intelsat Corp. (fka PanAmSat Corp.), Tranche
  B-2-C Term Loan, 2.74%, 1/03/14      325  300,965 
Lamar Media Corp., Series B Incremental Loan,
  5.50%, 9/28/12      425  421,536 
Lamar Media Corp., Series E Incremental Loan,
  5.50%, 3/15/13      731  727,118 
  Lamar Media Corp., Term Loan, 5.50%,         
  9/30/12      247  244,566 
Lavena Holding 3 GmbH (Prosiebensat.1 Media
  AG), Facility B1, 3.53%, 6/28/15    EUR  1,010  1,003,006 
Lavena Holding 3 GmbH (Prosiebensat.1 Media
  AG), Facility C1, 3.78%, 6/30/16      1,010  1,003,006 
  Local TV Finance, LLC, Term Loan, 2.24%,       
  5/07/13    USD  961  784,108 
MCC Iowa LLC (Mediacom Broadband Group),
  Tranche E Term Loan, 6.50%, 1/03/16      1,020  1,020,976 
  NTL Cable Plc, Term Loan, 2.90%, 11/19/37  GBP  206  331,022 
  New Vision Exit, Term Loan, 13.00%,         
  10/01/12    USD  318  318,265 
Newsday, LLC, Fixed Rate Term Loan, 10.50%,
  8/01/13      500  523,333 
  Newsday, LLC, Floating Rate Term Loan,       
  6.53%, 8/01/13      500  493,750 
  Nielsen Co., Term Loan B, 3.99%, 5/01/16    1,589  1,451,800 
Nielsen Finance LLC, Dollar Term Loan, 2.24%,
  8/09/13      763  685,298 
Sinclair Broadcast Group, Term Loan B, 6.50%,
  10/16/15      500  500,209 

7

BlackRock Defined Opportunity Credit Trust (BHL)       
Schedule of Investments November 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
Industry  Floating Rate Loan Interests (c)    (000)  Value 
  Sunshine Acquisition Ltd. (aka HIT       
  Entertainment), Term Facility, 2.53%,       
  3/20/12  USD  1,751  $ 1,501,299 
  TWCC Holding Corp., Term Loan, 7.25%, 9/14/15  1,391  1,390,975 
UPC Financing Partnership, Facility U, 4.43%,
  12/31/17  EUR  800  1,108,442 
  Virgin Media Investment Holdings Ltd.,       
  B-7 Facility, 4.40%, 9/03/12  GBP  281  447,888 
  Virgin Media Investment Holdings Ltd., C       
  Facility, 4.40%, 9/03/12    469  748,694 
  Virgin Media Investment Holdings Ltd., C       
  Facility, 3.58%, 7/17/13    140  213,871 
World Color Press Inc. and World Color (USA)
Corp. (fka Quebecor World Inc.), Advance,
  9.00%, 7/23/12  USD  649  650,448 
  Yell Group Plc TPI, Term Loan A, 7.12%,       
  8/09/11    750  686,250 
        27,747,904 
Metals & Mining - 0.8%  Essar Steel Algoma Inc. (fka Algoma Steel       
  Inc.), Term Loan, 8.00%, 6/20/13    987  930,600 
Multi-Utilities - 0.4%  FirstLight Power Resources, Inc. (fka NE Energy,     
  Inc.), Synthetic Letter of Credit, 0.16%, 11/01/13  57  51,969 
  FirstLight Power Resources, Inc. (fka NE Energy,     
  Inc.), Term B Advance (First Lien), 2.81%,       
  11/01/13    443  403,343 
        455,312 
Multiline Retail - 2.9%  Dollar General Corp., Tranche B-1 Term Loan,     
  2.98% - 3.03%, 7/07/14    1,496  1,401,238 
  Hema BV, Term Loan B, 5.43%, 1/01/17  EUR  1,800  1,918,977 
The Neiman Marcus Group Inc., Term Loan,
  2.24% - 2.32%, 4/06/13  USD  70  59,539 
        3,379,754 
Oil, Gas & Consumable Fuels - 0.8%  Big West Oil, LLC, Delayed Advance Loan,       
  6.50%, 5/15/14    442  420,344 
Big West Oil, LLC, Initial Advance Loan, 6.50%,
  5/15/14    352  334,365 
  Vulcan Energy, Term Loan B, 5.50%, 9/30/15  175  175,438 
        930,147 
Packaging - 0.5%  Berry Plastics Corp., Term Loan C, 2.30%, 4/02/15  680  571,766 
Paper & Forest Products - 1.1%  Georgia-Pacific LLC, Term Loan B, 2.23% - 2.30%,     
  12/22/12    1,310  1,243,376 
Personal Products - 0.8%  American Safety Razor Co., LLC, Loan (Second     
  Lien), 6.54%, 1/30/14    750  616,250 
American Safety Razor, Term Loan (First Lien),
  2.54% - 2.79%, 7/25/13    150  140,750 
  Revlon, Term Loan B, 4.29%, 1/15/12    125  120,000 
        877,000 

8

BlackRock Defined Opportunity Credit Trust (BHL)         
Schedule of Investments November 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
        Par   
Industry  Floating Rate Loan Interests (c)      (000)  Value 
Pharmaceuticals - 1.4%  Warner Chilcott Co., Inc., Tranche B         
  Acquisition Date Term Loan, 2.60%, 1/18/12  USD  - (e) $  1 
Warner Chilcott Corp., Tranche C Acquisition
  Date Term Loan, 2.26%, 1/18/12      - (e)  1 
  Warner Chilcott, Term Loan A, 5.50%, 10/14/14    644  641,649 
  Warner Chilcott, Term Loan B, 5.75%,         
  3/30/15      322  320,824 
  Warner Chilcott, Term Loan B1, 5.75%,         
  4/30/15      708  705,814 
          1,668,289 
Professional Services - 0.8%  Booz Allen Hamilton Inc., Tranche B Term       
  Loan, 7.50%, 7/31/15      990  987,175 
Real Estate Management &  Realogy Corp. Delayed Draw Term Loan, 3.29%,       
Development - 0.8%  10/10/13      300  254,375 
  Realogy Corp., Initial Term B Loan, 3.29%,       
  10/10/13      197  167,014 
  Realogy Corp. Term Loan (Second Lien),       
  13.50%, 10/15/17      500  514,750 
  Realogy Corp., Synthetic Letter of Credit,       
  3.15%, 10/10/13      53  44,965 
          981,104 
Specialty Retail - 1.1%  Adesa, Inc. (KAR Holdings, Inc.), Initial Term       
  Loan, 2.49%, 10/21/13      400  367,333 
General Nutrition Centers, Inc., Term Loan,
  2.49% - 2.54%, 9/16/13      277  254,466 
Michaels Stores, Inc., Term Loan B, 2.56%,
  10/31/13      276  237,804 
Michaels Stores, Inc., Term Loan B, 4.81%,
  7/31/16      507  449,912 
          1,309,515 
Textiles, Apparel & Luxury  Hanesbrands Inc., Term Loan B, 5.02% - 5.03%,       
Goods - 0.3%  9/05/13      364  363,498 
Wireless Telecommunication  Digicel International Finance Ltd., Tranche A,       
Services - 2.3%  2.81%, 3/30/12      1,179  1,129,071 
  MetroPCS Wireless, Inc., Tranche B Term       
  Loan, 2.50% - 2.56%, 11/03/13      1,269  1,168,922 
  Ntelos Inc., Term B Advance, 5.75%, 8/07/15    325  324,188 
          2,622,181 
  Total Floating Rate Loan Interests - 103.8%      120,568,842 
        Beneficial   
        Interest   
  Other Interests (f)      (000)   
Auto Components - 0.6%  Delphi Debtor In Possession Hold Co. LLP,       
  Class B Membership Interests      - (e)  710,324 
Media - 0.5%  New Vision LLC Holdings    USD  71  573,581 
  Total Other Interests - 1.1%        1,283,905 
  Total Long-Term Investments         
  (Cost - $142,858,793) - 121.1%        140,751,744 

9

BlackRock Defined Opportunity Credit Trust (BHL)       
Schedule of Investments November 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
                                                                                                         Short-Term Securities    Shares  Value 
                                                                                                         BlackRock Liquidity Funds, TempFund,       
                                                                                                         Institutional Class, 0.16% (g)(h)     3,230,812  $ 3,230,812 
                                                                                                         Total Short-Term Securities       
                                                                                                         (Cost - $3,230,812) - 2.8%      3,230,812 
                                                                                                         Total Investments (Cost - $146,089,605*) - 123.9%    143,982,556 
                                                                                                         Liabilities in Excess of Other Assets - (23.9)%    (27,790,353) 
                                                                                                         Net Assets - 100.0%      $ 116,192,203 

* The cost and unrealized appreciation (depreciation) of investments as of November 30, 2009, as computed
for federal income tax purposes, were as follows:

Aggregate cost  $ 146,089,605 
Gross unrealized appreciation  $ 3,052,272 
Gross unrealized depreciation  (5,159,320) 
Net unrealized depreciation  $ (2,107,048) 

(a) Non-income producing security.
(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in
transactions exempt from registration to qualified institutional investors.

(c) Variable rate security. Rate shown is as of report date.
(d) Issuer filed for bankruptcy and/or is in default of interest payments.
(e) Amount is less than $1,000.
(f) Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income
producing.

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

Affiliate  Net Activity  Income 
BlackRock Liquidity Funds, TempFund, Institutional Class  $ 3,230,812  $ 1,497 

(h) Represents the current yield as of report date.

• For Trust compliance purposes, the Trust’s industry classifications refer to any one or more of the industry sub-
classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by
Trust management. This definition may not apply for purposes of this report, which may combine industry sub-
classifications for reporting ease.

• Foreign currency exchange contracts as of November 30, 2009 were as follows:

          Settlement  Unrealized 
     Currency Purchased    Currency Sold  Counterparty  Date  Depreciation 
USD  11,398,958  EUR           7,666,500  Citibank NA  1/20/10  $ (110,593) 
USD  3,206,356  GBP           1,958,000  Citibank NA  1/27/10  (13,499) 
Total            $ (124,092) 

• Currency Abbreviations:

EUR  Euro 
GBP  British Pound 
USD  US Dollar 

10

BlackRock Defined Opportunity Credit Trust (BHL)

Schedule of Investments November 30, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

• Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as
follows:

• Level 1 - 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 Trust's own assumptions used in determining the fair value
of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with
investing in those securities. For information about the Trust's policy regarding valuation of investments and other
significant accounting policies, please refer to the Trust's most recent financial statements as contained in its annual
report.

The following tables summarize the inputs used as of November 30, 2009 in determining the fair valuation of
the Trust's investments:

Valuation  Investments in 
Inputs  Securities 
  Assets 
Level 1   
   Long-Term Investments:   
   Common Stocks  $ 267,320 
   Short-Term Securities  3,230,812 
Total Level 1  3,498,132 
Level 2   
   Long-Term Investments:   
       Corporate Bonds  18,319,013 
       Floating Rate Loan Interests  89,219,786 
Total Level 2  107,538,799 
Level 3   
   Long-Term Investments:   
       Corporate Bonds  312,664 
       Floating Rate Loan Interests  31,349,056 
       Other Interests  1,283,905 
Total Level 3  32,945,625 
Total  $ 143,982,556 
Valuation  Other Financial 
Inputs  Instruments1 
  Liabilities 
Level 1  - 
Level 2  $ (124,092) 
Level 3  (22,857) 
Total  $ (146,949) 

1 Other financial instruments are foreign currency exchange contracts and unfunded loan
commitments which are valued at the unrealized appreciation/depreciation on the
instrument.

11

BlackRock Defined Opportunity Credit Trust (BHL)

Schedule of Investments November 30, 2009 (Unaudited)
The following is a reconciliation of investments for unobservable inputs (Level 3) used in determining fair value:
Investments in Securities

  Corporate  Floating Rate  Other   
  Bonds  Loan Interests  Interests  Total 
Balance, as of August 31, 2009  -  $ 24,495,356  -  $ 24,495,356 
Accrued discounts/premiums  -  -  -  - 
Realized gain (loss)  -  267,307  -  267,307 
Change in unrealized         
appreciation/depreciation1  -  2,784,105  -  2,784,105 
Net purchases (sales)  -  (5,122,021)  -  (5,122,021) 
Net transfers in/out of Level 3  $ 312,664  8,924,309  $ 1,283,905  10,520,878 
Balance, as of November 30, 2009  $ 312,664  $ 31,349,056  $ 1,283,905  $ 32,945,625 

1The change in unrealized appreciation/depreciation on securities still held at November 30, 2009 was $1,167,095.

The following is a reconciliation of other financial instruments for unobservable inputs (Level 3) used in determining
fair value:

Other Financial Instruments2
    Liabilities 
Balance, as of August 31, 2009  $ 60,517 
Accrued discounts/premiums    - 
Realized gain (loss)    - 
Change in unrealized appreciation/depreciation    - 
Net purchases (sales)    - 
Net transfers in/out of Level 3    (83,374) 
Balance, as of November 30, 2009  $ (22,857) 
2 Other financial instruments are unfunded loan commitments.   

12

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 13(a)-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 Defined Opportunity Credit Trust

By: /s/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer of
BlackRock Defined Opportunity Credit Trust

Date: January 22, 2010

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/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer (principal executive officer) of
BlackRock Defined Opportunity Credit Trust

Date: January 22, 2010

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock Defined Opportunity Credit Trust

Date: January 22, 2010