BlackRock Defined Opportunity Credit Trust's (the Fund)'s primary investment objective is high current income, with a secondary objective of long-term capital appreciation. The Fund seeks to achieve its investment objectives by investing substantially all of its assets in loan and debt instruments and loan-related and debt-related instruments (collectively credit securities). The Fund invests, at least 80% of its assets in any combination of the credit securities, including senior secured floating rate and fixed rate loans; second lien or other subordinated or unsecured floating rate and fixed rate loans or debt; credit securities that are rated below investment grade quality, and investment grade corporate bonds. The Fund may invest directly in such securities or synthetically through the use of derivatives. The manager of the Fund is Blackrock Advisors, LLC.