 Moodys Investors Service Moodys has completed a periodic review of the ratings of The Gabelli Global Small and Mid Cap Value Trust and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moodys reassessed the appropriateness of the ratings in the context of the relevant principal methodologyies, recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. 