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 811-07083

 

Name of Fund: BlackRock MuniYield Arizona Fund, Inc. (MZA)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniYield Arizona Fund, Inc., 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: 07/31/2012

 

Date of reporting period: 10/31/2011

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments October 31, 2011 (Unaudited)

BlackRock MuniYield Arizona Fund, Inc. (MZA)
(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Arizona — 135.2%

 

 

 

 

 

 

 

Corporate — 7.1%

 

 

 

 

 

 

 

Maricopa County Pollution Control Corp.,
Refunding RB, Southern California
Edison Co., Series A, 5.00%, 6/01/35

 

$

2,850

 

$

2,989,736

 

Pima County IDA, RB, Tucson Electric
Power, 5.75%, 9/01/29

 

 

500

 

 

511,135

 

Pima County IDA, RB, Tucson Electric
Power, Series A, 5.25%, 10/01/40

 

 

1,000

 

 

945,330

 

 

 

 

 

 

 

4,446,201

 

County/City/Special District/School District — 48.4%

 

 

 

 

 

 

 

City of Glendale Arizona, RB (NPFGC),
5.00%, 7/01/25

 

 

2,055

 

 

2,184,938

 

City of Tucson Arizona, COP:

 

 

 

 

 

 

 

Series A (NPFGC), 5.00%, 7/01/20

 

 

1,500

 

 

1,597,365

 

(AGC), 5.00%, 7/01/29

 

 

1,000

 

 

1,048,580

 

County of Pinal Arizona, COP:

 

 

 

 

 

 

 

5.00%, 12/01/26

 

 

1,250

 

 

1,267,037

 

5.00%, 12/01/29

 

 

1,250

 

 

1,258,100

 

Gila County Unified School District No.
10-Payson Arizona, GO, School
Improvement Project of 2006, Series
A (AMBAC), 5.25%, 7/01/27 (a)

 

 

500

 

 

528,010

 

Gilbert Public Facilities Municipal
Property Corp. Arizona, RB, 5.50%,
7/01/27

 

 

2,000

 

 

2,196,280

 

Gladden Farms Community Facilities
District, GO, 5.50%, 7/15/31

 

 

750

 

 

721,155

 

Greater Arizona Development Authority,
RB, Santa Cruz County Jail, Series 2,
5.25%, 8/01/31

 

 

1,155

 

 

1,173,919

 

Marana Municipal Property Corp., RB,
Series A, 5.00%, 7/01/28

 

 

2,500

 

 

2,600,350

 

Maricopa County Community College
District Arizona, GO, Series C, 3.00%,
7/01/22

 

 

1,000

 

 

999,070

 

Maricopa County Public Finance Corp.,
RB, Series A (AMBAC), 5.00%,
7/01/24

 

 

1,900

 

 

2,038,567

 

Maricopa County Unified School District
No. 89-Dysart Arizona, GO, School
Improvement Project of 2006, Series
C, 6.00%, 7/01/28

 

 

1,000

 

 

1,117,200

 

Mohave County Unified School District
No. 20 Kingman, GO, School
Improvement Project of 2006, Series
C (AGC), 5.00%, 7/01/26

 

 

1,000

 

 

1,081,190

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Arizona (continued)

 

 

 

 

 

 

 

County/City/Special District/School District
(concluded)

 

 

 

 

 

 

 

Phoenix Civic Improvement Corp., RB:

 

 

 

 

 

 

 

Senior Lien, Series B, AMT (FGIC),
5.25%, 7/01/27

 

$

450

 

$

451,926

 

Phoenix Civic Improvement Corp., RB (concluded):

 

 

 

 

 

 

 

Subordinate, Civic Plaza Expansion
Project, Series A (NPFGC), 5.00%,
7/01/35

 

 

3,325

 

 

3,380,428

 

Scottsdale Municipal Property Corp.

 

 

 

 

 

 

 

Arizona, RB, Water & Sewer
Development Project, Series A,
5.00%, 7/01/24

 

 

1,500

 

 

1,669,440

 

State of Arizona, RB, Series A (AGM),
5.00%, 7/01/29

 

 

1,930

 

 

2,034,336

 

Vistancia Community Facilities District
Arizona, GO:

 

 

 

 

 

 

 

6.75%, 7/15/22

 

 

1,275

 

 

1,298,906

 

5.75%, 7/15/24

 

 

750

 

 

788,932

 

Yuma County Library District, GO
(Syncora), 5.00%, 7/01/26

 

 

1,000

 

 

1,054,350

 

 

 

 

 

 

 

30,490,079

 

Education — 11.9%

 

 

 

 

 

 

 

Arizona State University, RB, Series
2008-C:

 

 

 

 

 

 

 

6.00%, 7/01/25

 

 

970

 

 

1,119,254

 

6.00%, 7/01/26

 

 

745

 

 

856,758

 

6.00%, 7/01/27

 

 

425

 

 

487,122

 

6.00%, 7/01/28

 

 

400

 

 

456,172

 

Maricopa County IDA Arizona, RB,
Arizona Charter Schools Project,
Series A, 6.63%, 7/01/20

 

 

700

 

 

546,609

 

Pima County IDA, RB, Arizona Charter
Schools Project, Series C:

 

 

 

 

 

 

 

6.70%, 7/01/21

 

 

710

 

 

710,071

 

6.75%, 7/01/31

 

 

985

 

 

943,108

 

Pima County IDA, Refunding RB:

 

 

 

 

 

 

 

Arizona Charter Schools
Project, Series O, 5.00%,
7/01/26

 

 

995

 

 

818,228

 

Charter Schools II, Series A,
6.75%, 7/01/21

 

 

560

 

 

560,101

 

University of Arizona, COP, University of
Arizona Projects, Series B (AMBAC),
5.00%, 6/01/28

 

 

1,000

 

 

1,015,160

 

 

 

 

 

 

 

7,512,583

 

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

CAB

Capital Appreciation Bonds

COP

Certificates of Participation

FGIC

Financial Guaranty Insurance Co.

GO

General Obligation Bonds

IDA

Industrial Development Authority

NPFGC

National Public Finance Guarantee Corp.

RB

Revenue Bonds

Syncora

Syncora Guarantee

 

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD ARIZONA FUND, INC.

OCTOBER 31, 2011

1


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Arizona Fund, Inc. (MZA)
(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Arizona (continued)

 

 

 

 

 

 

 

Health — 22.8%

 

 

 

 

 

 

 

Arizona Health Facilities Authority, RB,
Catholic Healthcare West, Series B-2,
5.00%, 3/01/41 (b)

 

$

500

 

$

493,900

 

Arizona Health Facilities Authority,
Refunding RB, Banner Health,
Series D:

 

 

 

 

 

 

 

6.00%, 1/01/30

 

 

1,500

 

 

1,532,730

 

5.50%, 1/01/38

 

 

2,800

 

 

2,892,792

 

Maricopa County IDA, RB, Catholic
Healthcare West, Series A, 6.00%,
7/01/39

 

 

170

 

 

177,077

 

Maricopa County IDA Arizona,
Refunding RB:

 

 

 

 

 

 

 

Catholic Healthcare West,
Series A, 5.50%, 7/01/26

 

 

1,850

 

 

1,912,789

 

Samaritan Health Services, Series A
(NPFGC), 7.00%, 12/01/16 (c)

 

 

1,000

 

 

1,198,610

 

Scottsdale IDA, RB, Scottsdale
Healthcare, Series C (AGM), 5.00%,
9/01/35

 

 

1,800

 

 

1,775,214

 

University Medical Center Corp. Arizona,
RB (GOCORP):

 

 

 

 

 

 

 

6.00%, 7/01/39

 

 

1,000

 

 

1,007,920

 

6.50%, 7/01/39

 

 

500

 

 

519,485

 

Yavapai County IDA Arizona, RB, Yavapai
Regional Medical Center, Series A,
6.00%, 8/01/33

 

 

1,800

 

 

1,804,230

 

Yavapai County IDA Arizona, Refunding
RB, Northern Arizona Healthcare
System, 5.25%, 10/01/26

 

 

1,000

 

 

1,072,660

 

 

 

 

 

 

 

14,387,407

 

Housing — 3.6%

 

 

 

 

 

 

 

Maricopa County & Phoenix Industrial
Development Authorities, Refunding
RB, AMT (Ginnie Mae), S/F:

 

 

 

 

 

 

 

Series A-1, 5.75%, 5/01/40

 

 

370

 

 

379,009

 

Series A-2, 5.80%, 7/01/40

 

 

285

 

 

290,358

 

Maricopa County IDA Arizona, RB, Series
3-B, AMT (Ginnie Mae), 5.25%,
8/01/38

 

 

492

 

 

518,289

 

Phoenix & Pima County IDA, RB, Series
1A, AMT (Ginnie Mae), 5.65%,
7/01/39

 

 

197

 

 

197,416

 

Phoenix & Pima County IDA, Refunding
RB, Series 2007-1, AMT (Ginnie Mae),
5.25%, 8/01/38

 

 

415

 

 

417,606

 

Phoenix IDA Arizona, Refunding RB,
Series 2007-2, AMT (Ginnie Mae),
5.50%, 12/01/38

 

 

494

 

 

497,627

 

 

 

 

 

 

 

2,300,305

 

State — 15.5%

 

 

 

 

 

 

 

Arizona School Facilities Board, COP:

 

 

 

 

 

 

 

5.13%, 9/01/21

 

 

1,000

 

 

1,094,960

 

5.75%, 9/01/22

 

 

2,000

 

 

2,255,740

 

Arizona Sports & Tourism Authority, RB,
Multipurpose Stadium Facilities,
Series A (NPFGC), 5.00%, 7/01/31

 

 

500

 

 

491,975

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Arizona (concluded)

 

 

 

 

 

 

 

State (concluded)

 

 

 

 

 

 

 

Arizona State Transportation Board, RB,
Series B, 5.00%, 7/01/30

 

$

4,000

 

$

4,292,320

 

Greater Arizona Development Authority,
RB, Series B (NPFGC), 5.00%,
8/01/30

 

 

1,600

 

 

1,623,904

 

 

 

 

 

 

 

9,758,899

 

Transportation — 6.1%

 

 

 

 

 

 

 

Phoenix Civic Improvement Corp., RB:

 

 

 

 

 

 

 

Junior Lien, Series A, 5.00%,
7/01/40

 

 

1,000

 

 

1,022,520

 

Senior Lien, Series A, 5.00%,
7/01/33

 

 

1,000

 

 

1,037,210

 

Senior Lien, Series B, AMT (NPFGC),
5.75%, 7/01/17

 

 

1,000

 

 

1,020,950

 

Senior Lien, Series B, AMT (NPFGC),
5.25%, 7/01/32

 

 

755

 

 

756,608

 

 

 

 

 

 

 

3,837,288

 

Utilities — 19.8%

 

 

 

 

 

 

 

County of Pima Arizona, RB, System
(AGM), 5.00%, 7/01/25

 

 

750

 

 

834,038

 

Gilbert Water Resource Municipal
Property Corp., RB, Subordinate Lien
(NPFGC), 5.00%, 10/01/29

 

 

900

 

 

933,048

 

Phoenix Civic Improvement Corp., RB,
Junior Lien (NPFGC), 5.50%,
7/01/12 (d)

 

 

2,500

 

 

2,574,350

 

Phoenix Civic Improvement Corp.,
Refunding RB, Senior Lien, 5.50%,
7/01/22

 

 

2,000

 

 

2,368,960

 

Pinal County IDA Arizona, RB, San
Manuel Facility Project, AMT, 6.25%,
6/01/26

 

 

500

 

 

454,195

 

Salt River Project Agricultural
Improvement & Power District, RB,
Series A:

 

 

 

 

 

 

 

5.00%, 1/01/24

 

 

1,000

 

 

1,111,790

 

5.00%, 1/01/38

 

 

2,500

 

 

2,621,375

 

Salt River Project Agricultural
Improvement & Power District,
Refunding RB, Salt River Project,
Series A, 5.00%, 1/01/35

 

 

1,500

 

 

1,554,630

 

 

 

 

 

 

 

12,452,386

 

Total Municipal Bonds in Arizona

 

 

 

 

 

85,185,148

 

Guam — 1.6%

 

 

 

 

 

 

 

Utilities — 1.6%

 

 

 

 

 

 

 

Guam Government Waterworks

 

 

 

 

 

 

 

Authority, Refunding RB, Water,

 

 

 

 

 

 

 

5.88%, 7/01/35

 

 

1,000

 

 

987,950

 

Total Municipal Bonds in Guam

 

 

 

 

 

987,950

 

 

 

 

 

 

 

2

BLACKROCK MUNIYIELD ARIZONA FUND, INC.

OCTOBER 31, 2011


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Arizona Fund, Inc. (MZA)
(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Puerto Rico — 11.9%

 

 

 

 

 

 

 

State — 8.5%

 

 

 

 

 

 

 

Commonwealth of Puerto Rico, GO,
Series A, 6.00%, 7/01/38

 

$

800

 

$

827,408

 

Puerto Rico Public Buildings Authority,
Refunding RB, Government Facilities,
Series M-3 (NPFGC), 6.00%, 7/01/28

 

 

700

 

 

736,785

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, 6.38%,
8/01/39

 

 

1,500

 

 

1,662,510

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB:

 

 

 

 

 

 

 

CAB, Series A (NPFGC), 5.72%,
8/01/41 (e)

 

 

9,530

 

 

1,483,916

 

First Sub, Series C, 6.00%,
8/01/39

 

 

600

 

 

651,792

 

 

 

 

 

 

 

5,362,411

 

Transportation — 0.1%

 

 

 

 

 

 

 

Puerto Rico Highway & Transportation
Authority, Refunding RB, Series AA
(NPFGC), 5.50%, 7/01/18

 

 

50

 

 

54,565

 

Utilities — 3.3%

 

 

 

 

 

 

 

Puerto Rico Electric Power Authority, RB,
Series WW:

 

 

 

 

 

 

 

5.38%, 7/01/24

 

 

1,000

 

 

1,054,860

 

5.50%, 7/01/38

 

 

1,000

 

 

1,020,590

 

 

 

 

 

 

 

2,075,450

 

Total Municipal Bonds in Puerto Rico

 

 

 

 

 

7,492,426

 

US Virgin Islands — 0.8%

 

 

 

 

 

 

 

Corporate — 0.8%

 

 

 

 

 

 

 

Virgin Islands Public Finance Authority,
Refunding RB, Senior Secured,
Hovensa Coker Project, AMT, 6.50%,
7/01/21

 

 

500

 

 

477,365

 

Total Municipal Bonds in the US Virgin Islands

 

 

 

 

 

477,365

 

Total Municipal Bonds – 149.5%

 

 

 

 

 

94,142,889

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond (TOB) Trusts (f)

 

 

 

 

 

 

 

Arizona — 11.2%

 

 

 

 

 

 

 

Utilities — 11.2%

 

 

 

 

 

 

 

City of Mesa Arizona, RB, 5.00%,
7/01/35

 

 

3,000

 

 

3,183,990

 

Phoenix Arizona, Civic Improvement
Corp., 5.00%, 7/01/34

 

 

3,000

 

 

3,210,540

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond (TOB) Trusts (f)

 

Par
(000)

 

Value

 

Arizona (concluded)

 

 

 

 

 

 

 

Utilities (concluded)

 

 

 

 

 

 

 

Salt River Project Agricultural
Improvement & Power District, RB,
5.00%, 1/01/38

 

$

660

 

$

692,043

 

 

 

 

 

 

 

7,086,573

 

Total Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts – 11.2%

 

 

 

 

 

7,086,573

 

Total Long-Term Investments
(Cost – $98,148,140) – 160.7%

 

 

 

 

 

101,229,462

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

BIF Arizona Municipal Money Fund,
0.00% (g)(h)

 

 

1,354,745

 

 

1,354,745

 

Total Short-Term Securities
(Cost - $1,354,745) – 2.2%

 

 

 

 

 

1,354,745

 

Total Investments
(Cost - $99,502,885*) – 162.9%

 

 

 

 

 

102,584,207

 

Other Assets Less Liabilities – 1.6%

 

 

 

 

 

1,039,807

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (5.3)%

 

 

 

 

 

(3,331,722

)

VRDP Shares, at Liquidation Value – (59.2)%

 

 

 

 

 

(37,300,000

)

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

62,992,292

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of October 31, 2011, as computed for federal income tax purposes, were as follows:

 

 

Aggregate cost

 

$

96,187,572

 

 

Gross unrealized appreciation

 

$

4,015,714

 

 

Gross unrealized depreciation

 

 

(949,079

)

 

Net unrealized appreciation

 

$

3,066,635

 

 

 

 

 

 

 

(a)

Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown is as of report date.

 

 

(b)

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

 

JPMorgan Chase Securities

 

$

493,900

 

$

8,900

 

 

(c)

Security is collateralized by Municipal or US Treasury obligations.

 

 

(d)

US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

 

(e)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

 

(f)

Securities represent bonds transferred to a TOB in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD ARIZONA FUND, INC.

OCTOBER 31, 2011

3


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniYield Arizona Fund, Inc. (MZA)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(g)

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
July 31,
2011

 

Net
Activity

 

Shares
Held at
October 31,
2011

 

Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BIF Arizona
Municipal
Money Fund

 

 

2,960,530

 

 

(1,605,785

)

 

1,354,745

 

$

—

 

 

(h)

Represents the current yield as of report date.

 

 

•

For Fund compliance purposes, the Fund’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Fund management. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

 

•

Fair Value Measurements – Various inputs are used in determining the fair value of investments. These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

 

 

 

•

Level 1 — unadjusted 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 Fund’s own assumptions used in determining the fair value of investments)

 

 

 

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The categorization of a value determined for investments is based on the pricing transparency of the investment and does not necessarily correspond to the Fund’s perceived risk of investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its annual report.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table summarizes the inputs used as of October 31, 2011 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments1

 

 

—

 

$

101,229,462

 

 

—

 

$

101,229,462

 

Short-Term

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities

 

$

1,354,745

 

 

—

 

 

—

 

 

1,354,745

 

Total

 

$

1,354,745

 

$

101,229,462

 

 

—

 

$

102,584,207

 

 

 

1

See above Schedule of Investments for values in each sector.

 

 

 

 

 

 

4

BLACKROCK MUNIYIELD ARIZONA FUND, INC.

OCTOBER 31, 2011

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 13a-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 MuniYield Arizona Fund, Inc.

 

 

 

 By: /s/ John M. Perlowski

 

 

 

John M. Perlowski

 

 

Chief Executive Officer (principal executive officer) of

 

 

BlackRock MuniYield Arizona Fund, Inc.

 

 

 

Date: December 21, 2011

 

 

 

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 MuniYield Arizona Fund, Inc.

 

 

 

Date: December 21, 2011

 

 

 

 By: /s/ Neal J. Andrews

 

 

 

Neal J. Andrews

 

 

Chief Financial Officer (principal financial officer) of

 

 

BlackRock MuniYield Arizona Fund, Inc.

 

 

 

 

Date: December 21, 2011