New York, August 27, 2013 -- Moody's Investors Service, ("Moody's") has assigned Aa2 long-term ratings and P-1 short-term ratings to Variable Rate Demand Preferred (VRDP) shares issued by three state-specific closed-end funds managed by Nuveen Fund Advisors, LLC (Nuveen). Royal Bank of Canada (RBC), (Aa3/P-1, stable) has entered into a VRDP Purchase Agreement to provide liquidity support for the VRDP shares of Nuveen California Dividend Advantage Municipal Fund 2, and The Toronto-Dominion Bank (Aa1/P-1, stable) has entered into VRDP Purchase Agreements to provide liquidity support to the VRDP shares of Nuveen New Jersey Dividend Advantage Municipal Fund and Nuveen Virginia Premium Income Municipal Fund. The VRDP shares' short-term ratings are based on the liquidity support from the applicable VRDP Purchase Agreement provider and are therefore linked to the short-term rating of Royal Bank of Canada and The Toronto-Dominion Bank, as applicable. The Aa2 long-term ratings of the VRDP shares are based on the funds' adjusted leverage, portfolio profiles and fixed charge coverage, as calculated by Moody's, combined with an assessment of the VRDP shares' relative priority of claim.

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