BlackRock Debt Strategies Fund Inc is a closed ended fixed income mutual fund launched by BlackRock Inc The fund is managed by BlackRock Advisors LLC It invests in fixed income markets of the United States The fund primarily invests in a diversified portfolio of companies debt instruments including corporate loans which are rated in the lower rating categories of the established rating services BBB or lower by SPs or Baa or lower by Moodys or unrated debt instruments which are in the judgment of the investment adviser of equivalent quality It was formerly known as Debt Strategies Fund Inc BlackRock Debt Strategies Fund Inc was formed on March 27 1998 and is domiciled in the United States