Nuveen Municipal Value Fund, Inc. seeks to provide current income exempt from regular federal income tax by investing in an actively managed portfolio tax-exempt municipal securities. At least 80% of its managed assets are rated investment grade; up to 10% may be rated below B-/B3 at the time of purchase or, if unrated, judged to be of comparable quality by the Fund's portfolio team. The Fund may invest in inverse floating rate municipal securities, also known as tender option bonds. The Fund's use of tender option bonds to more efficiently implement its investment strategy may create up to 10% effective leverage.