Moody's Aa1/P-1 ratings unaffected by additional preferred shares issued by two Nuveen national municipal closed-end funds

New York, May 17, 2013 -- Moody's Investors Service ("Moody's") said that the increase in Variable Rate Demand Preferred (VRDP) shares issued by the Nuveen Investment Quality Municipal Fund, Inc. (Ticker: NQM) and the Nuveen Select Quality Municipal Fund, Inc. (Ticker: NQS) do not impact the Aa1/P-1 rating of VRDP shares of both funds. Each of the national municipal funds are increasing their total amount of VRDP issuance to $236.8 million for NQM, and $267.5 million for NQS; marginal increases in leverage of $25 million and $15 million for each fund, respectively. Nuveen has confirmed that no additional changes will be made to either fund.

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