N-Q 1 d800991dnq.htm BLACKROCK WORLD INCOME FUND, INC. BLACKROCK WORLD INCOME FUND, INC.

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: 811-05603

Name of Fund: BlackRock World Income Fund, Inc.

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

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

Registrant’s telephone number, including area code: (800) 441-7762

Date of fiscal year end: 12/31/2014

Date of reporting period: 09/30/2014

Item 1 – Schedule of Investments

Schedule of Investments September 30, 2014 (Unaudited)

   

BlackRock World Income Fund, Inc.

(Percentages shown are based on Net Assets)

 

Common Stocks               
Shares		     Value  

Canada — 0.2%

       

Ainsworth Lumber Co. Ltd. (a)(b)

        47,014      $ 113,762   

Ainsworth Lumber Co. Ltd. (a)

        65,864        159,375   
      

 

 

  
                       273,137   

United States — 0.2%

       

HealthSouth Corp.

        122        4,502   

NewPage Corp.

        2,540        233,680   
      

 

 

  
                       238,182   

Total Common Stocks — 0.4%

                      511,319   
      
                          
Asset-Backed Securities           Par  
(000)		         

Australia — 0.4%

       

SMART Trust, Series 2014-2E, Class AE, 0.44%, 6/14/21 (c)

      EUR        365        460,557   

France — 0.1%

       

Cars Alliance Funding PLC, Series 2012-F1F, Class A, 1.38%, 9/25/21

        10        12,965   

Driver France 1 FCT, Series 1, Class B, 0.81%, 10/21/20 (c)

        70        88,800   

FCT Copernic, Series 2012-1, Class A1, 1.06%, 9/25/29 (c)

        75        94,941   
      

 

 

  
                       196,706   

Germany — 0.2%

       

Driver Ten GmbH, Series 10, Class A, 0.26%, 3/21/19 (c)

        170        214,605   

Red & Black TME Germany 1 UG, Series 1, Class A, 0.51%, 1/15/23 (c)

        24        30,589   
      

 

 

  
                       245,194   

Italy — 0.8%

       

Asset-Backed European Securitisation Transaction Srl, Series 9, Class A, 0.76%, 12/10/28 (c)

        228        288,255   

Auto ABS Compartiment, Series 2012-2, Class A, 2.80%, 4/27/25

        176        224,969   

Berica PMI Srl, Series 1, Class A1X, 2.57%, 5/31/57 (c)

        103        132,648   
Asset-Backed Securities          

Par  

(000)

     Value  

Italy (concluded)

       

Sunrise Srl, Series 2014-1, Class A, 1.15%, 5/27/31 (c)

      EUR        255      $ 323,489   
      

 

 

  
                       969,361   

Luxembourg — 0.2%

       

Bumper 2 SA, Series 2011-2, Class A, 1.26%, 2/23/23 (c)

        117        147,752   

Silver Arrow SA, Series 5, Class A, 0.27%, 10/15/22 (c)(d)

        100        126,305   
      

 

 

  
                       274,057   

Netherlands — 0.0%

       

Highway BV, Series 2012-1, Class A, 1.11%, 3/26/24 (c)

              13        16,577   

Portugal — 0.6%

       

GAMMA Sociedade de Titularizacao de Creditos SA/Atlantes SME, Series 3, Class A, 2.03%, 12/28/43 (c)

        207        262,721   

Volta II Electricity Receivables, 2.98%, 2/16/18

        359        455,411   
      

 

 

  
                       718,132   

United Kingdom — 0.3%

       

Atlantes, Ltd. / Atlantes Finance PLC, Series 6, Class A, 2.48%, 3/20/33 (c)

        129        165,605   

Bumper 2 SA, Series 2012-5 (c):

       

Class A1, 1.21%, 6/20/22

        18        23,369   

Class A2, 1.91%, 6/20/22

      GBP        18        29,999   

E CARAT 2 PLC, Series 2, Class A, 1.06%, 10/18/21 (c)

        106        171,922   

Turbo Finance 3 PLC, Series 3, Class A, 1.11%, 11/20/19 (c)

        17        27,195   
      

 

 

  
                       418,090   

United States — 0.1%

       

SLM Student Loan Trust, Series 2012-C, Class A1, 1.25%, 8/15/23 (b)(c)

      USD        126        126,838   

Total Asset-Backed Securities — 2.7%

                      3,425,512   
      
                          

Corporate Bonds

                         

Australia — 0.3%

       

CNOOC Curtis Funding No 1 Property Ltd., 4.50%, 10/03/23 (b)

              420        435,757   

 

                
  

BLACKROCK WORLD INCOME FUND, INC.

   

SEPTEMBER 30, 2014

    1

Schedule of Investments (continued)

   

BlackRock World Income Fund, Inc.

(Percentages shown are based on Net Assets)

 

Corporate Bonds           Par  
(000)		     Value  

Brazil — 1.7%

       

Petrobras International Finance Co.:

       

3.88%, 1/27/16

      USD        1,610      $ 1,647,835   

5.75%, 1/20/20

        510        536,627   
      

 

 

  
                       2,184,462   

Denmark — 0.1%

       

Danske Bank A/S, 5.75% (c)(e)

      EUR        100        125,831   

France — 1.6%

       

BNP Paribas SA, 2.88%, 3/20/26 (c)

        465        605,557   

Casino Guichard Perrachon SA, 3.25%, 3/07/24

        300        412,165   

Numericable Group SA, 6.00%, 5/15/22

      USD        6        6,045   

Renault SA:

       

4.63%, 9/18/17

      EUR        339        466,890   

3.13%, 3/05/21

        380        512,054   
      

 

 

  
                       2,002,711   

Hong Kong — 0.4%

       

Bao-trans Enterprises Ltd., 3.75%, 12/12/18

      USD        445        455,480   

India — 1.2%

       

Canara Bank, 5.25%, 10/18/18

        213        227,556   

NTPC Ltd., 4.75%, 10/03/22

        380        389,795   

ONGC Videsh, Ltd., 2.75%, 7/15/21

      EUR        255        323,321   

Power Grid Corp. of India Ltd., 3.88%, 1/17/23

      USD        280        271,080   

Syndicate Bank, 3.88%, 12/04/19

        339        339,044   
      

 

 

  
                       1,550,796   

Ireland — 1.5%

       

Aquarius and Investments PLC for Swiss Reinsurance Co. Ltd., 6.38%, 9/01/24 (c)

        200        209,316   

Aquarius and Investments PLC for Zurich Insurance Co. Ltd., 4.25%, 10/02/43 (c)

      EUR        130        178,071   

Bank of Ireland:

       

2.00%, 5/08/17

        340        434,174   

3.25%, 1/15/19

        430        570,952   

ESB Finance Ltd., 3.49%, 1/12/24

        180        259,733   

Sibur Securities Ltd., 3.91%, 1/31/18

      USD        265        242,475   
      

 

 

  
                       1,894,721   

Italy — 1.7%

       

Banca Monte dei Paschi di Siena SpA, 2.88%, 4/16/22

      EUR        205        282,166   
Corporate Bonds           Par  
(000)		     Value  

Italy (concluded)

       

Davide Campari-Milano SpA:

       

5.38%, 10/14/16

      EUR        150      $ 205,336   

4.50%, 10/25/19

        330        468,007   

Telecom Italia SpA:

       

4.50%, 9/20/17

        410        555,884   

6.13%, 12/14/18

        200        288,935   

4.88%, 9/25/20

        260        360,914   
      

 

 

  
                       2,161,242   

Kazakhstan — 0.7%

       

KazMunayGas National Co. JSC, 7.00%, 5/05/20 (b)

      USD        800        889,600   

Luxembourg — 1.7%

       

ArcelorMittal, 6.13%, 6/01/18

        116        122,960   

CNH Industrial Finance Europe SA, 2.75%, 3/18/19

      EUR        570        725,403   

Gazprom Neft OAO Via GPN Capital SA, 2.93%, 4/26/18

        265        312,115   

GELF Bond Issuer I SA, 3.13%, 4/03/18

        470        633,449   

HeidelbergCement Finance Luxembourg SA, 7.50%, 10/31/14

        300        380,810   
      

 

 

  
                       2,174,737   

Netherlands — 1.0%

       

Bharti Airtel International Netherlands BV, 5.35%, 5/20/24 (b)

      USD        232        247,217   

Cooperatieve Centrale Raiffeisen-Boerenleenbank BA, 4.63%, 5/23/29

      GBP        210        342,658   

Louis Dreyfus Commodities BV, 4.00%, 12/04/20

      EUR        365        481,067   

NN Group NV, 4.63%, 4/08/44 (c)

        110        142,062   
      

 

 

  
                       1,213,004   

Portugal — 0.5%

       

Banco Santander Totta SA, 1.50%, 4/03/17

        300        387,630   

Galp Energia SGPS SA, 4.13%, 1/25/19

        200        270,333   
      

 

 

  
                       657,963   

Saudi Arabia — 0.4%

       

Dar Al-Arkan Sukuk Co. Ltd., 5.75%, 5/24/18

      USD        510        511,275   

Spain — 0.4%

       

Bankia SA, 3.50%, 1/17/19

      EUR        400        543,112   

Switzerland — 1.1%

       

Credit Suisse AG, 6.50%, 8/08/23

      USD        300        326,265   

 

                
2   

BLACKROCK WORLD INCOME FUND, INC.

   

SEPTEMBER 30, 2014

   

Schedule of Investments (continued)

   

BlackRock World Income Fund, Inc.

(Percentages shown are based on Net Assets)

 

Corporate Bonds          

Par  

(000)

     Value  

Switzerland (concluded)

  

UBS AG:

       

4.75%, 5/22/23 (c)

      USD        265      $ 265,000   

5.13%, 5/15/24

        345        336,375   

4.75%, 2/12/26 (c)

      EUR        305        403,839   
      

 

 

  
                       1,331,479   

United Arab Emirates — 0.9%

  

Emirates Airline, 4.50%, 2/06/25

      USD        1,215        1,202,850   

United Kingdom — 3.8%

  

AA Bond Co. Ltd., 9.50%, 7/31/43

      GBP        255        453,699   

Aon PLC, 2.88%, 5/14/26

      EUR        125        167,226   

British Sky Broadcasting Group PLC:

       

2.63%, 9/16/19 (b)

      USD        200        199,880   

1.50%, 9/15/21

      EUR        225        283,780   

3.75%, 9/16/24

      USD        280        279,355   

2.50%, 9/15/26

      EUR        330        420,737   

Enterprise Inns PLC:

       

6.50%, 12/06/18

      GBP        505        875,989   

6.00%, 10/06/23 (d)

        505        818,681   

Fidelity International Ltd., 7.13%, 2/13/24

        200        389,108   

Northern Rock Asset Management PLC, 5.63%, 6/22/17 (b)

      USD        800        885,152   
      

 

 

  
                       4,773,607   

United States — 5.2%

  

Bank of America Corp.:

       

4.00%, 4/01/24

        500        505,261   

Series L, 1.35%, 11/21/16

        190        190,257   

Comcast Corp., 4.75%, 3/01/44

        205        216,271   

Continental Resources, Inc., 3.80%, 6/01/24

        445        435,884   

COX Communications, Inc., 8.38%, 3/01/39 (b)

        208        294,854   

Delphi Corp., 5.00%, 2/15/23

        895        958,545   

Forest Laboratories, Inc., 5.00%, 12/15/21 (b)

        350        374,110   

The Interpublic Group of Cos., Inc., 2.25%, 11/15/17

        233        233,915   

JPMorgan Chase & Co., 3.63%, 5/13/24

        590        586,064   

NewPage Corp., 11.38%, 12/31/14 (a)(f)

        586        —   

QVC, Inc.:

       

5.13%, 7/02/22

        86        90,351   

4.85%, 4/01/24

        645        660,643   

5.95%, 3/15/43

        170        180,065   

Rockwood Specialties Group, Inc., 4.63%, 10/15/20

        235        242,637   

Verizon Communications, Inc.:

       

5.15%, 9/15/23

        788        872,607   

3.25%, 2/17/26

      EUR        200        283,088   
Corporate Bonds          

Par  

(000)

     Value  

United States (concluded)

  

Verizon Communications, Inc. (concluded):

       

6.55%, 9/15/43

      USD        413      $ 515,999   
      

 

 

  
                       6,640,551   
Total Corporate Bonds — 24.2%        30,749,178   
      
                          
Foreign Agency Obligations                      

Australia — 5.9%

  

Australia Government Bond:

       

5.75%, 5/15/21

      AUD        1,105        1,114,144   

5.75%, 7/15/22

        120        122,426   

4.75%, 4/21/27

        450        436,025   

New South Wales Treasury Corp., Series C1B1, 2.75%, 11/20/25

        3,640        4,348,474   

Queensland Treasury Corp., Series 17, 6.00%, 9/14/17

        1,595        1,520,646   
      

 

 

  
                       7,541,715   

Brazil — 0.3%

  

Banco Nacional de Desenvolvimento Economico e Social, 5.75%, 9/26/23 (b)

      USD        352        375,866   

Canada — 0.3%

  

Canadian Government Bond, 4.00%, 6/01/41

      CAD        325        363,735   

Germany — 13.6%

  

Bundesobligation, 0.25%, 4/13/18

      EUR        140        178,431   

Bundesrepublik Deutschland:

       

3.50%, 7/04/19

        2,935        4,305,223   

1.50%, 5/15/23

        2,350        3,158,992   

2.00%, 8/15/23

        2,100        2,930,060   

1.75%, 2/15/24

        4,523        6,168,832   

Landwirtschaftliche Rentenbank, 4.88%, 2/21/20

      CAD        490        493,785   
      

 

 

  
                       17,235,323   

Indonesia — 0.2%

  

Perusahaan Penerbit SBSN Indonesia, 6.13%, 3/15/19 (b)

      USD        201        221,602   

Japan — 4.4%

  

Japan Government Twenty Year Bond:

       

1.50%, 3/20/34

      JPY        220,000        2,069,134   

 

                
   BLACKROCK WORLD INCOME FUND, INC.    SEPTEMBER 30, 2014    3

Schedule of Investments (continued)

   

BlackRock World Income Fund, Inc.

(Percentages shown are based on Net Assets)

 

Foreign Agency Obligations          

Par  

(000)

     Value  

Japan (concluded)

  

Japan Government Twenty Year Bond (concluded):

       

1.50%, 6/20/34

      JPY        372,250      $ 3,490,084   
      

 

 

  
                       5,559,218   

Portugal — 1.4%

  

Portugal Obrigacoes do Tesouro OT, 3.88%, 2/15/30 (b)

      EUR        1,435        1,833,411   

Slovenia — 3.3%

  

Slovenia Government International Bond:

       

2.75%, 3/17/15

        330        421,383   

4.13%, 2/18/19 (b)

      USD        567        590,389   

5.85%, 5/10/23

        960        1,068,000   

5.25%, 2/18/24

        300        319,500   

5.25%, 2/18/24 (b)

        555        591,075   

Slovenia Ministry of Finance Treasury Bill, 0.00%, 10/16/14 (g)

      EUR        960        1,212,402   
      

 

 

  
                       4,202,749   

South Korea — 1.4%

  

Inflation Linked Korea Treasury Bond, 2.75%, 3/10/17

      KRW        1,848,837        1,815,170   

Spain — 0.3%

  

Instituto de Credito Oficial, 4.53%, 3/17/16

      CAD        400        367,007   

Turkey — 0.2%

  

Turkey Government Bond, 8.80%, 9/27/23

      TRY        540        223,443   

United Kingdom — 3.3%

  

United Kingdom Gilt, 1.75%, 7/22/19

      GBP        2,560        4,144,874   
Total Foreign Agency Obligations — 34.6%        43,884,113   
      
                          
Municipal Bonds               

United States — 2.5%

  

California Health Facilities Financing Authority, RB, Sutter Health, Series A, 5.00%, 8/15/52

      USD        280        303,343   

California Pollution Control Financing Authority, RB, Poseidon Resources (Channel Side) LP Desalination Project, AMT, 5.00%, 11/21/45 (b)

        180        190,165   

Central Plains Nebraska Energy Project, RB, Gas Project No. 3, 5.00%, 9/01/42

        140        149,614   
Municipal Bonds          

Par  

(000)

     Value  

United States (concluded)

  

City of New York New York Municipal Water & Sewer System, Refunding RB, Fiscal 2013, Series BB,
5.00%, 6/15/47

      USD        225      $ 247,369   

City of New York New York Water & Sewer System, Refunding RB, 5.00%, 6/15/47

        160        178,208   

County of Broward Florida Airport System, RB, 5.00%, 10/01/42

        165        181,419   

County of Miami-Dade Florida Aviation, Refunding RB, AMT, Series A, 5.00%, 10/01/38

        280        283,276   

Dallas/Fort Worth International Airport, RB, Series A, 5.00%, 11/01/45

        315        331,537   

District of Columbia Water & Sewer Authority, RB, Series A, 4.81%, 10/01/2114

        75        77,119   

Port Authority of New York & New Jersey, RB, Consolidated, 168th Series, 4.93%, 10/01/51

        90        97,733   

State of California, GO, Various Purposes, Series 3, 5.95%, 4/01/16

        850        916,725   

University of Massachusetts Building Authority, Refunding RB, 5.00%, 11/01/44

        90        103,117   

Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossings LLC Project, AMT, 5.50%, 1/01/42

              120        129,474   
Total Municipal Bonds — 2.5%        3,189,099   
      
                          
Non-Agency Mortgage-Backed Securities               

Ireland — 0.3%

  

German Residential Funding 2013-2, Ltd., Series 2013-2, Class E, 3.93%, 11/27/24 (c)

      EUR        115        151,947   

German Residential Funding PLC, Series 2013-1, Class D, 3.68%, 8/27/24 (c)

        147        194,303   

Talisman Finance Ltd., Series 7, Class A, 0.40%, 4/22/17 (c)

        41        51,450   
      

 

 

  
                       397,700   

Netherlands — 0.1%

  

Storm BV, Series 2014-2, Class A1, 0.38%, 3/22/51 (c)

              94        118,947   

 

                
4    BLACKROCK WORLD INCOME FUND, INC.    SEPTEMBER 30, 2014   

Schedule of Investments (continued)

   

BlackRock World Income Fund, Inc.

(Percentages shown are based on Net Assets)

 

Non-Agency Mortgage-Backed Securities          

Par  

(000)

     Value  

United Kingdom — 0.8%

       

Fosse Master Issuer PLC, Series 2014-1X, Class A2, 0.96%, 10/18/54 (c)

      GBP        264      $ 428,804   

Gosforth Funding 2014-1 PLC, Series 2014-1, Class A1, 0.99%, 10/19/56 (c)

        175        283,956   

London & Regional Debt Securitisation No 1 PLC, Series 1, Class A, 4.81%, 10/15/17 (c)

        93        151,915   

Taurus PLC, Series 2013-GMF1, Class D, 2.94%, 5/21/24 (c)

      EUR        133        173,269   
      

 

 

  
                       1,037,944   

Total Non-Agency Mortgage-Backed Securities — 1.2%

                      1,554,591   
      
                          
U.S. Treasury Obligations                      

United States — 11.5%

       

U.S. Treasury Bond, 3.38%, 5/15/44

      USD        681        703,442   

U.S. Treasury Notes:

       

0.50%, 8/31/16

        3,250        3,246,698   

1.00%, 9/15/17

        3,250        3,244,924   

1.00%, 5/31/18

        4,158        4,096,348   

1.38%, 7/31/18

              3,269        3,255,921   

Total U.S. Treasury Obligations — 11.5%

                      14,547,333   
      
                          
Other Interests (h)           Beneficial  
Interest  
(000)		         

United States — 0.3%

       

Adelphia Preferred Escrow

        575        6   

Stanley Martin, Class B Membership Units

              — (i)      371,750   

Total Other Interests — 0.3%

                      371,756   
      
                          
Preferred Securities                      
Capital Trusts          

Par  

(000)

         

France — 0.4%

       

Credit Agricole SA, 6.63% (c)(e)

      EUR        200        190,705   

Electricite de France SA, 5.00% (c)(e)

        100        137,110   
Capital Trusts          

Par  

(000)

     Value  

France (concluded)

       

GDF Suez, Series NC5, 3.00% (c)(e)

      EUR        100      $ 127,707   
      

 

 

  
                       455,522   

Germany — 0.3%

       

Allianz SE, 4.75% (c)(e)

              300        407,369   

Netherlands — 1.1%

       

Generali Finance BV (c)(e):

       

5.32%

        450        581,161   

5.48%

        200        260,713   

Swiss Reinsurance Co. via ELM BV, 5.25% (c)(e)

        250        329,792   

Volkswagen International Finance NV, 4.63% (c)(e)

        200        269,977   
      

 

 

  
                       1,441,643   

Switzerland — 0.3%

       

Credit Suisse AG, 6.25% (c)(e)

              365        353,138   

United Kingdom — 1.6%

       

HSBC Holdings PLC (c)(e):

       

5.25%

      USD        200        250,387   

5.63%

        200        198,600   

6.38%

        200        199,750   

Legal & General Group PLC, 5.88% (c)(e)

      GBP        470        800,038   

Nationwide Building Society, 6.88% (c)(e)

        125        195,602   

NGG Finance PLC, 4.25%, 6/18/76 (c)

      EUR        250        334,668   
      

 

 

  
                       1,979,045   

United States — 0.9%

       

JPMorgan Chase & Co., 6.75% (c)(e)

      USD        295        309,898   

State Street Capital Trust IV, 1.23%, 6/15/37 (c)

        440        375,100   

Wells Fargo & Co., Series S, 5.90% (c)(e)

        490        499,187   
      

 

 

  
                       1,184,185   

Total Capital Trusts — 4.6%

                      5,820,902   

Total Preferred Securities — 4.6%

                      5,820,902   
      
                          
Warrants — 0.1% (j)           Shares         

Venezuela — 0.1%

       

Republic of Venezuela Oil Obligations (Expires 4/15/20)

              3,000        66,000   

 

                
  

BLACKROCK WORLD INCOME FUND, INC.

   

SEPTEMBER 30, 2014

    5

Schedule of Investments (continued)

   

BlackRock World Income Fund, Inc.

(Percentages shown are based on Net Assets)

 

                    Value  

Total Long-Term Investments

(Cost — $102,437,399) — 82.1%

  

  

   $ 104,119,803   
      
                          
Short-Term Securities           Shares         

BlackRock Liquidity Funds, TempFund, Institutional Class, 0.03% (k)(l)

        4,370,187        4,370,187   
      
                          
U.S. Treasury Obligations          

Par  

(000)

         

U.S. Treasury Bills (m):

       

0.11%, 12/11/14

     USD        860        859,974   

0.09%, 5/28/15

        13,000        12,996,763   

0.09%, 8/20/15

              3,250        3,247,813   
Total U.S. Treasury Obligations — 13.5%        17,104,550   
Short-Term Securitites               Value  

Total Short-Term Securities

(Cost — $21,469,351) — 16.9%

                    $ 21,474,737   

Options Purchased

(Cost — $29,608) — 0.0%

                      11,529   

Total Investments

(Cost — $123,936,358*) — 99.0%

          125,606,069   

Other Assets Less Liabilities — 1.0%

          1,310,229   
      

 

 

  

Net Assets — 100.0%

        $ 126,916,298   
      

 

 

  

 

*   As of September 30, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

   $ 124,031,754   
 

 

 

  

Gross unrealized appreciation

   $ 3,898,227   

Gross unrealized depreciation

     (2,323,912 ) 
 

 

 

  

Net unrealized appreciation

   $ 1,574,315   
 

 

 

  

 

Notes to Schedule of Investments

 

(a)   Non-income producing security.

 

(b)   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.

 

(c)   Variable rate security. Rate shown is as of report date.

 

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

 

Counterparty      Value        Unrealized
Appreciation/
(Depreciation)		  

Deutsche Bank AG

      $  818,681           —   

Lloyds Bank PLC

      $ 126,305         $ (3,210 ) 

 

(e)   Security is perpetual in nature and has no stated maturity date.

 

(f)   Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.

 

(g)   Zero-coupon bond.

 

(h)   Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.

 

(i)   Amount is less than $500.

 

(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, if any.

 

                
6    BLACKROCK WORLD INCOME FUND, INC.    SEPTEMBER 30, 2014   

Schedule of Investments (continued)

   

BlackRock World Income Fund, Inc.

 

 

(k)   Investments in issuers considered to be an affiliate of the Fund during the period ended September 30, 2014, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate     

Shares Held

at December 31,
2013

       

Net

Activity

       

Shares Held

at September 30,
2014

        Income  

Blackrock Liquidity Funds, TempFund, Institutional Class

        3,028,342           1,341,845           4,370,187         $ 656   

 

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

 

(m)   Rates shown are discount rates or a range of discount rates paid at the time of purchase.

 

Portfolio Abbreviations

 

ABS    Asset-Backed Security
AMT    Alternative Minimum Tax (subject to)
AUD    Australian Dollar
BRL    Brazilian Real
CAD    Canadian Dollar
CHF    Swiss Franc
CNY    Chinese Renminbi
EUR    Euro
GBP    British Pound
GO    General Obligation Bonds
HUF    Hungarian Forint
INR    Indian Rupee
JPY    Japanese Yen
JSC    Joint Stock Company
KRW    South Korean Won
LIBOR    London Interbank Offered Rate
LIFFE    London International Financial Futures and Options Exchange
MXN    Mexican Peso
NYSE    New York Stock Exchange
PLN    Polish Zloty
RB    Revenue Bonds
TRY    Turkish Lira
USD    U.S. Dollar
ZAR    South African Rand

 

Ÿ  

Financial futures contracts outstanding as of September 30, 2014 were as follows:

 

Contracts
Purchased (Sold)		     Issue   Exchange   Expiration  

Notional

Value

     Unrealized
Appreciation
(Depreciation)		  
  (182 )    2-Year U.S. Treasury Note   Chicago Board of Trade   December 2014     USD        39,829,562      $ 10,963   
  (129 )    10-Year U.S. Treasury Note   Chicago Board of Trade   December 2014     USD        16,078,641        60,997   
  (62 )    German Euro-Bund Future   Eurex   December 2014     EUR        9,281,400        (58,840 ) 
  (51 )    5-Year U.S. Treasury Note   Chicago Board of Trade   December 2014     USD        6,031,148        20,973   

 

                
   BLACKROCK WORLD INCOME FUND, INC.    SEPTEMBER 30, 2014    7

Schedule of Investments (continued)

   

BlackRock World Income Fund, Inc.

 

 

Ÿ  

Financial futures contracts outstanding as of September 30, 2014 were as follows (concluded):

 

Contracts
Purchased (Sold)		     Issue   Exchange   Expiration  

Notional

Value

    

Unrealized

Appreciation

(Depreciation)

  
  (39 )    German Euro BOBL Futures   Eurex   December 2014     EUR        4,988,880      $ (19,664 ) 
  (23 )    Long U.S. Treasury Bond   Chicago Board of Trade   December 2014     USD        3,171,844        52,442   
  (22 )    Long Gilt Bond Future   NYSE LIFFE   December 2014     GBP        2,489,080        (19,253 ) 
  (20 )    3-Year Australian Treasury Bonds   Australian Securities Exchange   December 2014     AUD        2,186,553        (5,572 ) 
  (18 )    10-Year Australian Treasury Bonds   Australian Securities Exchange   December 2014     AUD        2,174,404        (16,942 ) 
  (17 )    German Euro BTP Futures   Eurex   December 2014     EUR        2,218,160        (663 ) 
  (9 )    10-Year Canadian Government Treasury Bonds   Montreal   December 2014     CAD        1,219,320        10,110   
  (7 )    10-Year Japanese Government Treasury Bonds   Tokyo Stock Exchange   December 2014     JPY        1,020,880,000        (2,209 ) 
  1      Ultra Long U.S. Treasury Bond   Chicago Board of Trade   December 2014     USD        152,500        655   
  7      German Euro Buxl Futures   Eurex   December 2014     EUR        996,800        4,667   
  10      German Euro Schatz Futures   Eurex   December 2014     EUR        1,110,050        433   
  Total                $ 38,097   
           

 

 

  

 

Ÿ  

Forward foreign currency exchange contracts outstanding as of September 30, 2014 were as follows:

 

Currency
Purchased		        Currency
Sold		     Counterparty  

Settlement

Date

       

Unrealized

Appreciation/

(Depreciation)

  
EUR        7,739,000         USD        10,010,544      JPMorgan Chase Bank N.A.     10/06/14         $ (235,545 ) 
GBP        725,000         USD        1,183,651      Barclays Bank PLC     10/06/14           (8,358 ) 
USD        955,952         EUR        741,000      Barclays Bank PLC     10/06/14           20,008   
USD        7,662,741         EUR        5,915,000      Barclays Bank PLC     10/06/14           191,605   
USD        38,433,634         EUR        29,138,000      BNP Paribas S.A.     10/06/14           1,629,922   
USD        4,486,067         GBP        2,705,000      Barclays Bank PLC     10/06/14           101,008   
USD        4,145,248         GBP        2,565,000      Royal Bank of Scotland PLC     10/06/14           (12,858 ) 
USD        234,814         GBP        146,000      UBS AG     10/06/14           (1,866 ) 
USD        1,032,608         JPY        107,333,000      Barclays Bank PLC     10/06/14           53,936   
USD        1,032,708         JPY        107,333,000      Citibank N.A.     10/06/14           54,036   
USD        2,937,294         JPY        321,167,000      Standard Chartered Bank     10/06/14           8,864   
AUD        950,000         USD        881,857      Goldman Sachs & Co.     10/21/14           (51,202 ) 
TRY        1,259,000         USD        577,441      BNP Paribas S.A.     10/21/14           (27,226 ) 
USD        8,982,761         AUD        9,662,000      Deutsche Bank AG     10/21/14           534,565   
USD        1,740,655         CAD        1,875,000      UBS AG     10/21/14           67,270   
USD        41,973         GBP        26,000      Citibank N.A.     10/21/14           (170 ) 
USD        813,141         TRY        1,760,500      Deutsche Bank AG     10/21/14           43,759   
USD        841,939         ZAR        9,160,000      UBS AG     10/21/14           32,602   
ZAR        1,407,000         USD        127,652      Deutsche Bank AG     10/21/14           (3,336 ) 
ZAR        3,911,000         USD        364,363      UBS AG     10/21/14           (18,804 ) 
USD        35,167,368         EUR        27,922,000      BNP Paribas S.A.     11/06/14           (107,595 ) 
USD        7,556,853         GBP        4,672,000      Barclays Bank PLC     11/06/14           (14,861 ) 

 

                
8    BLACKROCK WORLD INCOME FUND, INC.    SEPTEMBER 30, 2014   

Schedule of Investments (continued)

   

BlackRock World Income Fund, Inc.

 

Ÿ  

Forward foreign currency exchange contracts outstanding as of September 30, 2014 were as follows (concluded):

 

Currency
Purchased		        Currency
Sold		     Counterparty   Settlement
Date		        Unrealized
Appreciation/
(Depreciation)		  
USD        4,883,809         JPY        535,833,000      Barclays Bank PLC     11/06/14         $ (2,984 ) 
KRW        3,626,665,000         USD        3,478,148      HSBC Bank PLC     11/10/14           (56,727 ) 
USD        5,471,640         KRW        5,676,827,000      HSBC Bank PLC     11/10/14           116,082   
AUD        1,055,000         USD        945,924      Deutsche Bank AG     11/21/14           (25,493 ) 
AUD        1,050,000         USD        941,966      Deutsche Bank AG     11/21/14           (25,897 ) 
CAD        1,735,000         USD        1,566,683      Barclays Bank PLC     11/21/14           (19,371 ) 
CAD        1,734,000         USD        1,566,783      Credit Suisse International     11/21/14           (20,363 ) 
CNY        39,510,000         USD        6,390,619      HSBC Bank PLC     11/21/14           14,102   
CNY        38,825,085         USD        6,295,619      HSBC Bank PLC     11/21/14           (1,926 ) 
EUR        6,720,000         USD        9,001,521      Deutsche Bank AG     11/21/14           (510,907 ) 
GBP        570,000         USD        950,485      Barclays Bank PLC     11/21/14           (26,831 ) 
GBP        779,000         USD        1,291,753      Barclays Bank PLC     11/21/14           (29,426 ) 
INR        37,800,000         USD        612,741      HSBC Bank PLC     11/21/14           (7,825 ) 
PLN        8,060,000         USD        2,558,353      Barclays Bank PLC     11/21/14           (130,047 ) 
TRY        680,000         USD        304,574      Credit Suisse International     11/21/14           (9,700 ) 
TRY        700,000         USD        309,515      Morgan Stanley & Co. International PLC     11/21/14           (5,968 ) 
USD        656,406         AUD        729,000      Barclays Bank PLC     11/21/14           20,393   
USD        952,227         AUD        1,065,000      Deutsche Bank AG     11/21/14           23,072   
USD        630,974         AUD        685,000      Deutsche Bank AG     11/21/14           33,349   
USD        637,682         AUD        691,000      Deutsche Bank AG     11/21/14           34,822   
USD        945,914         AUD        1,060,000      JPMorgan Chase Bank N.A.     11/21/14           21,122   
USD        1,594,863         CAD        1,755,000      HSBC Bank PLC     11/21/14           29,714   
USD        1,596,676         CAD        1,759,000      HSBC Bank PLC     11/21/14           27,960   
USD        3,172,788         CAD        3,469,000      Royal Bank of Canada     11/21/14           79,056   
USD        9,081,135         CHF        8,193,000      HSBC Bank PLC     11/21/14           495,794   
USD        6,281,360         CNY        38,825,085      HSBC Bank PLC     11/21/14           (12,334 ) 
USD        525,372         EUR        405,000      Barclays Bank PLC     11/21/14           13,661   
USD        531,372         EUR        410,000      Deutsche Bank AG     11/21/14           13,344   
USD        2,578,769         HUF        607,300,000      Deutsche Bank AG     11/21/14           112,839   
USD        634,930         JPY        66,600,000      Barclays Bank PLC     11/21/14           27,476   
USD        483,067         JPY        50,800,000      Barclays Bank PLC     11/21/14           19,724   
USD        484,215         JPY        50,800,000      BNP Paribas S.A.     11/21/14           20,872   
USD        634,027         JPY        66,600,000      Deutsche Bank AG     11/21/14           26,574   
USD        621,526         TRY        1,380,000      Deutsche Bank AG     11/21/14           23,105   
Total                         $ 2,523,016   
                       

 

 

  

 

Ÿ  

OTC options purchased as of September 30, 2014 were as follows:

 

Description    Counterparty      Put/
Call		        Strike
Price		        Expiration
Date		       

Notional

Amount

(000)

        Market
Value		  

EUR Currency Call

    Credit Suisse Securities (USA) LLC        Call           EUR    1.21           10/06/14           EUR         975         $ 865   

GBP Currency Call

    Barclays Bank PLC        Call           GBP    1.70           12/08/14           GBP    11,705           10,664   

Total

  

      $ 11,529   
                           

 

 

  

 

 

                
   BLACKROCK WORLD INCOME FUND, INC.    SEPTEMBER 30, 2014    9

Schedule of Investments (continued)    BlackRock World Income Fund, Inc.

 

 

Ÿ  

Centrally cleared interest rate swaps outstanding as of September 30, 2014 were as follows:

 

Fixed

Rate

   Floating
Rate		     Clearinghouse   Expiration
Date		   Notional
Amount (000)		        Unrealized
Appreciation
(Depreciation)		  
1.59%1     6-month LIBOR      Chicago Mercantile   8/13/17     GBP     3,759         $ (7,250 ) 
1.59%1     6-month LIBOR      Chicago Mercantile   8/13/17     GBP     5,915           (10,734 ) 
2.21%1     6-month LIBOR      Chicago Mercantile   6/18/19     GBP        805           (15,688 ) 
2.67%1     3-month LIBOR      Chicago Mercantile   6/30/24     USD        775           (2,445 ) 
2.63%1     3-month LIBOR      Chicago Mercantile   7/01/24     USD     1,490           643   
Total              $ (35,474 ) 
            

 

 

  

1    Fund pays a fixed rate and receives floating rate.

       

 

Ÿ  

OTC credit default swaps — buy protection outstanding as of September 30, 2014 were as follows:

 

Issuer/Index   Pay
Fixed Rate		     Counterparty   Expiration
Date		   Notional Amount
(000)		     Market
Value		     Premiums
Paid
(Received)		     Unrealized
Appreciation
(Depreciation)		  

FirstEnergy Corp

     1.00 %    Deutsche Bank AG   3/20/18     USD        480      $ (5,262 )    $ 4,250      $ (9,512 ) 

Hewlett-Packard Company

     1.00 %    JPMorgan Chase Bank N.A.   12/20/18     USD        321        (4,704 )      7,523        (12,227 ) 

Koninklijke KPN NV

     1.00 %    Deutsche Bank AG   3/20/19     EUR        130        (899 )      1,191        (2,090 ) 

Koninklijke KPN NV

     1.00 %    Credit Suisse Securities (USA) LLC   3/20/19     EUR        175        (1,210 )      1,506        (2,716 ) 

Koninklijke KPN NV

     1.00 %    Citibank N.A.   3/20/19     EUR        235        (1,624 )      2,286        (3,910 ) 

Hewlett-Packard Company

     1.00 %    JPMorgan Chase Bank N.A.   3/20/19     USD        470        (5,659 )      4,901        (10,560 ) 

Kohl’s Corp.

     1.00 %    JPMorgan Chase Bank N.A.   6/20/19     USD        214        (106 )      4,044        (4,150 ) 

Dow Jones CDX North America Emerging Markets Index, Series 21, Version 1

     5.00 %    Citibank N.A.   6/20/19     USD     2,232        (209,523 )      (231,487 )      21,964   

iTraxx, Series 21, Version 1

     1.00 %    Morgan Stanley & Co. LLC   6/20/19     EUR        420        (8,213 )      (10,725 )      2,512   

Russian Federation

     1.00 %    Bank of America N.A.   9/20/19     USD     1,300        84,722        62,048        22,674   

Total

  

   $ (152,478 )    $ (154,463 )    $ 1,985   
         

 

 

    

 

 

    

 

 

  

 

                
10   

BLACKROCK WORLD INCOME FUND, INC.

   

SEPTEMBER 30, 2014

   

Schedule of Investments (continued)

    BlackRock World Income Fund, Inc.

 

 

Ÿ  

OTC credit default swaps — sold protection outstanding as of September 30, 2014 were as follows:

 

Issuer/Index   Receive
Fixed Rate		     Counterparty   Expiration
Date		   Credit
Rating1 		 

Notional Amount
(000)2

     Market
Value		     Premiums
Paid
(Received)		     Unrealized
Appreciation
(Depreciation)		  

Dow Jones CDX North America Investment Grade Index Series 19, Version 1

     1.00 %    Deutsche Bank AG   12/20/17   BBB+     USD        640      $ 11,705      $ 4,178      $ 7,527   

Host Hotels & Resorts, Inc.

     1.00 %    Credit Suisse Securities (USA) LLC   6/20/18   BBB     USD        260        4,637        (3,992 )      8,629   

Host Hotels & Resorts, Inc.

     1.00 %    Credit Suisse Securities (USA) LLC   6/20/18   BBB     USD        510        9,095        (7,481 )      16,576   

FirstEnergy Corp.

     1.00 %    JPMorgan Chase Bank N.A.   9/20/18   BB+     USD        315        2,198        (7,895 )      10,093   

British Telecommunications PLC

     1.00 %    Bank of America N.A.   6/20/19   BBB     EUR        140        2,988        3,452        (464 ) 

Vodafone Group PLC

     1.00 %    Bank of America N.A.   6/20/19   A-     EUR        130        2,446        3,037        (591 ) 

Vodafone Group PLC

     1.00 %    Morgan Stanley & Co. LLC   6/20/19   A-     EUR        150        2,822        3,598        (776 ) 

Valero Energy Corp.

     1.00 %    Deutsche Bank AG   9/20/19   BBB     USD        350        (1,713 )      1,477        (3,190 ) 

Total

  

   $ 34,178      $ (3,626 )    $ 37,804   
           

 

 

    

 

 

    

 

 

  

1    Using S&P’s rating of the issuer or the underlying securities of the index, as applicable.

2    The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement.

 

Ÿ  

OTC interest rate swaps outstanding as of September 30, 2014 were as follows:

 

Fixed
Rate		   Floating
Rate		   Counterparty    

Effective

Date

  

Expiration

Date

    

Notional
Amount (000)

     Market
Value		     Premiums
Paid
(Received)		     Unrealized
Appreciation
(Depreciation)		  
11.38%3   1-Day OIS     Bank of America N.A.      N/A     1/04/16        BRL        4,545      $ (12,817 )    $ (113 )    $ (12,704 ) 
12.20%3   1-Day OIS     Bank of America N.A.      N/A     1/04/16        BRL        992        643        (28 )      671   
11.74%3   1-Day OIS     Bank of America N.A.      N/A     1/04/16        BRL        1,558        (2,416 )      (46 )      (2,370 ) 
11.95%3   1-Day OIS     Deutsche Bank AG      N/A     1/04/16        BRL        784        (918 )      (347 )      (571 ) 
11.91%3   1-Day OIS     Deutsche Bank AG      N/A     1/04/16        BRL        1,755        (2,211 )      (385 )      (1,826 ) 
11.18%3   1-Day OIS     Deutsche Bank AG      N/A     1/04/16        BRL        2,125        (8,075 )      (34 )      (8,041 ) 
4.70%3   1-Month MXIBOR     Deutsche Bank AG      3/27/155     3/25/16        MXN        49,780        23,804        —        23,804   
5.18%4   6-Month BUBOR     Deutsche Bank AG      N/A     11/06/23        HUF        85,000        (36,619 )      —        (36,619 ) 
5.51%4   6-Month BUBOR     Citibank N.A.      N/A     12/09/23        HUF        70,063        (37,305 )      —        (37,305 ) 
2.87%3   3-Month KORIBOR     Deutsche Bank AG      N/A     7/25/24        KRW        932,155        13,982        (16 )      13,998   
2.86%3   3-Month KORIBOR     Deutsche Bank AG      N/A     7/25/24        KRW        796,320        11,323        (13 )      11,336   
2.89%3   3-Month KORIBOR     Bank of America N.A.      N/A     7/31/24        KRW        800,000        12,941        (5 )      12,946   

Total

  

   $ (37,668 )    $ (987 )    $ (36,681 ) 
             

 

 

    

 

 

    

 

 

  

3    Fund pays the floating rate and receives the fixed rate.

       

4    Fund pays a fixed rate and receives the floating rate.

       

5    Forward swap.

       

 

                
   BLACKROCK WORLD INCOME FUND, INC.    SEPTEMBER 30, 2014    11

Schedule of Investments (continued)   

BlackRock World Income Fund, Inc.

 

 

Ÿ  

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. 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. 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. The three levels of the fair value hierarchy are as follows:

 

  Ÿ  

Level 1 — unadjusted quoted prices in active markets/exchanges for identical assets or liabilities that the Master Series has the ability to access

 

  Ÿ  

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)

 

  Ÿ  

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivative financial instruments)

Changes in valuation techniques may result in transfers 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. 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.

The following tables summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy as of September 30, 2014:

 

        Level 1        Level 2        Level 3        Total  

Assets:

  

Investments:                    

Long-Term Investments:

                    

Common Stocks

      $ 163,877         $ 113,762         $ 233,680         $ 511,319   

Asset-Backed Securities

        —           3,425,512           —           3,425,512   

Corporate Bonds

        —           30,749,178           —           30,749,178   

Foreign Agency Obligations

        —           43,884,113           —           43,884,113   

Municipal Bonds

        —           3,189,099           —           3,189,099   

Non-Agency Mortgage-Backed Securities

        —           1,554,591           —           1,554,591   

U.S. Treasury Obligations

        —           14,547,333           —           14,547,333   

Other Interests

        —           —           371,756           371,756   

Preferred Securities

        —           5,820,902           —           5,820,902   

Warrants

        —           66,000           —           66,000   
Options Purchased:                    

Foreign currency contracts

        —           11,529           —           11,529   
Short-Term Securities:                    

Money Market Funds

        4,370,187           —           —           4,370,187   

U.S. Treasury Obligations

        —           17,104,550           —           17,104,550   
    

 

 

       

 

 

       

 

 

       

 

 

  
Total      $ 4,534,064         $ 120,466,569         $ 605,436         $ 125,606,069   
    

 

 

       

 

 

       

 

 

       

 

 

  

 

                
12   

.BLACKROCK WORLD INCOME FUND, INC.

   

SEPTEMBER 30, 2014

   

Schedule of Investments (concluded)

   

BlackRock World Income Fund, Inc.

 

 

     Level 1        Level 2        Level 3        Total  
Derivative Financial Instruments1                 

Assets:

                 
Credit contracts     —         $ 89,975           —         $ 89,975   
Foreign currency exchange contracts     —           3,890,636           —           3,890,636   
Interest rate contracts   $ 161,240           63,398           —           224,638   

Liabilities:

                 
Credit contracts     —           (50,186 )         —           (50,186 ) 
Foreign currency exchange contracts     —           (1,367,620 )         —           (1,367,620 ) 
Interest rate contracts     (123,143 )         (135,553 )         —           (258,696 ) 
 

 

 

       

 

 

       

 

 

       

 

 

  

Total

   $ 38,097         $ 2,490,650           —         $ 2,528,747   
 

 

 

       

 

 

       

 

 

       

 

 

  

 

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

       

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of September 30, 2014, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

     Level 1        Level 2        Level 3        Total  

Assets:

                 

Cash pledged for financial futures contracts

   $ 783,998           —           —         $ 783,998   

Cash pledged for centrally cleared swaps

     185,000           —           —           185,000   

Cash pledged as collateral for over-the-counter swaps

     88,186           —           —           88,186   

Foreign currency at value

     856,722           —           —           856,722   
 

 

 

       

 

 

       

 

 

       

 

 

  

Total

   $ 1,913,906           —           —         $ 1,913,906   
 

 

 

       

 

 

       

 

 

       

 

 

  

 

                
   BLACKROCK WORLD INCOME FUND, INC.    SEPTEMBER 30, 2014    13

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 15d-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 World Income Fund, Inc.

 

By:    

  

/s/ John M. Perlowski

  John M. Perlowski
 

Chief Executive Officer (principal executive officer) of

BlackRock World Income Fund, Inc.

Date: November 24, 2014

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 World Income Fund, Inc.

Date: November 24, 2014

 

By:      

/s/ Neal J. Andrews

  Neal J. Andrews
 

Chief Executive Officer (principal executive officer) of

BlackRock World Income Fund, Inc.

Date: November 24, 2014