Fund Description: BlackRock Debt Strategies Fund, Inc., formerly Debt Strategies Fund, Inc., is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The BlackRock Debt Strategies Fund, Inc. seeks to provide current income. The Fund’s secondary objective is to provide capital appreciation. FUND STRATEGY: The Fund will invest in a diversified portfolio of United States companies’ debt instruments, including corporate loans, which are rated in the lower rating categories of the rating services (BBB or lower by Standard & Poor's, or Baa or lower by Moody's Investors Service, Inc.) or unrated debt instruments. Corporate loans include senior and subordinated corporate loans, both secured and unsecured. It may invest directly in such securities or synthetically through the use of derivatives. The Fund invests in various industries, including cable, chemicals, information technology, paper, automotive, financial, healthcare, housing, leisure, manufacturing, telecommunications, transportation and utilities. FUND MANAGEMENT: The Fund’s investment advisor is BlackRock Advisors, LLC.