Formulario N-CSRS Western Asset Middle para: 31 de octubre

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ESTADOS UNIDOS

COMISIÓN NACIONAL DEL MERCADO DE VALORES

Washington, D.C.20549

FORMAR N-CSR

CERTIFICADO
INFORME DE ACCIONISTAS DE REGISTRADOS

GESTIÓN DE EMPRESAS DE INVERSIÓN

Número de archivo de la Ley de Sociedades de Inversión 811-22582

Western Asset Middle Market Income Fund Inc.

(Nombre exacto del registrante como se especifica en la carta)

620 octavo
Avenida, 49th Piso, Nueva York, NY 10018

(Dirección de las oficinas ejecutivas principales)
(Código postal)

Robert I. Frenkel, Esq.

Legg Mason & Co., LLC

100 Primer lugar de Stamford

Stamford, CT 06902

(Nombre
y dirección del agente para el servicio)

Número de teléfono del registratario, incluido el código de área: (888) 777-0102

Fecha de fin del año fiscal: 30 de abril

Fecha del período del informe: 31 de octubre de 2019


OBJETO 1.

INFORME A LOS ACCIONISTAS.

los Semi anual Se presenta un informe a los Accionistas.


LOGO

Informe semestral 31 de octubre de 2019

ACTIVO OCCIDENTAL

MERCADO MEDIO

FONDO DE INGRESOS INC.

A partir de abril de 2021, según lo permitido por las regulaciones adoptadas por la Comisión de Bolsa y Valores, el Fondo tiene la intención
ya no envíe por correo copias impresas de los informes de accionistas del Fondo como este, a menos que solicite específicamente copias impresas de los informes del Fondo o de su intermediario financiero (como un corredor de bolsa o banco). En cambio, el
los informes estarán disponibles en un sitio web, y se le notificará por correo cada vez que se publique un informe y se le proporcione un enlace al sitio web para acceder al informe.

Si invierte a través de un intermediario financiero y ya eligió recibir informes de accionistas electrónicamente ("Entrega electrónica"), no se verá afectado por este cambio y no necesita tomar ninguna medida. Si aún no has elegido entrega electrónica, puedes elegir recibir
informes de accionistas y otras comunicaciones del Fondo electrónicamente contactando a su intermediario financiero.

Puede elegir recibir todos los informes futuros en papel sin cargo. Si invierte a través de un intermediario financiero,
puede comunicarse con su intermediario financiero para solicitar que continúe recibiendo copias en papel de sus informes de accionistas. Esa elección se aplicará a todos los fondos de Legg Mason en su cuenta en ese intermediario financiero. Si eres directo
accionista del Fondo, puede llamar al Fondo al 1-888-888-0151, o escriba al Fondo por correo postal a P.O. Box 505000,
Louisville, KY 40233 o mediante entrega nocturna a Computershare, 462 South 4th Street, Suite 1600, Louisville, KY 40202 para informar al Fondo que desea continuar recibiendo copias en papel de sus informes de accionistas. Esa elección se aplicará a todos los Legg
Mason Funds en su cuenta mantenida directamente con el complejo de fondos.

LOGO

PRODUCTOS DE INVERSIÓN: NO ASEGURADOS POR LA FDIC • SIN GARANTÍA BANCARIA • PUEDE PERDER VALOR

Objetivos del fondo

El objetivo principal de inversión del Fondo es proporcionar altos ingresos. Como objetivo secundario de inversión, el Fondo busca la revalorización del capital.

El Fondo busca alcanzar sus objetivos de inversión invirtiendo, en condiciones normales de mercado, al menos el 80% de sus activos gestionados (los activos netos del Fondo más el
monto principal de cualquier préstamo y acciones preferentes que puedan estar en circulación) en valores, incluidos préstamos, emitidos por empresas del mercado intermedio. Para fines de inversión, "mercado intermedio" se refiere a empresas con ingresos anuales de
entre $ 100 millones y $ 1 mil millones al momento de la inversión del Fondo. Los valores de los emisores del mercado medio generalmente se consideran por debajo del grado de inversión (también comúnmente conocidos como "bonos basura").

Se anticipa que el Fondo terminará el 30 de diciembre de 2022 o antes.

II Western Asset Middle Market Income Fund Inc.

Carta del presidente

LOGO

Estimado accionista,

Nos complace proporcionar el informe semestral de Western Asset Middle Market Income Fund Inc. para el seis meses informes
período finalizado el 31 de octubre de 2019. Lea la información de rendimiento del Fondo durante el período de informe del Fondo.

Como siempre, seguimos comprometidos con
brindándole un excelente servicio y un espectro completo de opciones de inversión. También seguimos comprometidos a complementar el soporte que recibe de su asesor financiero. Una forma de lograr esto es a través de nuestro sitio web, www.lmcef.com. Tu aquí
puede obtener acceso inmediato a información de mercado e inversión, que incluye:

Fondos activos netos y rendimiento

Perspectivas de mercado y comentarios de nuestros gerentes de cartera, y

Una gran cantidad de recursos educativos.

Esperamos poder ayudarlo a alcanzar sus objetivos financieros.

Sinceramente,

LOGO

Jane Trust, CFA

Presidente, presidente y director ejecutivo

29 de noviembre de 2019

Western Asset Middle Market Income Fund Inc. III

Revisión de desempeño

Para los seis meses terminados el 31 de octubre de 2019, Western Asset Middle Market Income Fund Inc.
regresado -0,91% basado en su valor liquidativo ("NAV")yo. El índice de referencia no gestionado del Fondo, el Bloomberg Barclays U.S. Corporate High Yield
- Índice del 2% del componente Caa del emisoriidevuelto -3,61% por el mismo periodo The Lipper Alto rendimiento (apalancado) Promedio de la categoría de fondos cerradosiii devolvió 1.86% durante el mismo período de tiempo. Tenga en cuenta que los rendimientos del rendimiento de Lipper se basan en el NAV de cada fondo.

Durante esto seis meses período de informe, el Fondo realizó distribuciones a los accionistas por un total de $ 30.39 por acción. A partir de
El 31 de octubre de 2019, el Fondo estima que el 87% de las distribuciones se obtuvieron de los ingresos netos de inversión y el 13% constituyeron un retorno de capital. * La tabla de rendimiento muestra el rendimiento del Fondo. seis meses
rendimiento total basado en su VAN al 31 de octubre de 2019. El rendimiento pasado no es garantía de resultados futuros.

Instantánea de rendimiento
al 31 de octubre de 2019 (sin auditar)

Precio por acción

6 meses

Regreso trotal**

$ 713.07 (NAV) -0,91% †

Todas las cifras representan el rendimiento pasado y no son garantía de resultados futuros. Cifras de rendimiento para períodos inferiores a un año.
representan cifras acumulativas y no están anualizadas.

** El rendimiento total se basa en cambios en el NAV. El rendimiento refleja la deducción de todos los gastos del Fondo, incluidos
honorarios de administración, gastos operativos y otros gastos del Fondo. El rendimiento no refleja la deducción de comisiones de corretaje o impuestos que los inversores pagan por las distribuciones o la disposición de las acciones.

† El rendimiento total supone la reinversión de todas las distribuciones, incluidos los retornos de capital, si los hay, en NAV.

¿Buscando información adicional?

los
El NAV diario del fondo está disponible en línea bajo el símbolo "XWMFX" en la mayoría de los sitios web financieros. En un esfuerzo continuo por proporcionar información sobre el Fondo, los accionistas pueden llamar 1-888-777-0102 (sin cargo), de lunes a viernes de 8:00 a.m. a 5:30 p.m. Hora del Este, para el NAV actual del Fondo y otros
información.

* *

Estas estimaciones no son para fines fiscales. El Fondo emitirá un Formulario 1099 con la composición final de las distribuciones para
fines fiscales después fin de año. Un retorno de capital no está sujeto a impuestos y da como resultado una reducción en la base impositiva de la inversión de un accionista. Para obtener más información sobre la composición de una distribución,
consulte el comunicado de prensa de distribución del Fondo o, si corresponde, el aviso de la Sección 19 ubicado en la sección de comunicados de prensa de nuestro sitio web, www.lmcef.com (haga clic en el nombre del Fondo).

IV Western Asset Middle Market Income Fund Inc.

Gracias por su inversión en Western Asset Middle Market Income Fund Inc. Como siempre, le agradecemos que haya elegido
nosotros para administrar sus activos y seguimos enfocados en lograr los objetivos de inversión del Fondo.

Sinceramente,

LOGO

Jane Trust, CFA

Presidente, presidente y director ejecutivo

18 de noviembre de 2019

RIESGOS El fondo es un no diversificado final cerrado inversión de gestión
empresa. Una inversión en el Fondo implica un alto grado de riesgo. El Fondo debe considerarse una inversión ilíquida. Este Fondo no cotiza en bolsa y está cerrado a nuevos inversores. El Fondo no tiene la intención de solicitar una cotización en bolsa, y
Es muy poco probable que exista un mercado secundario para la compra y venta de las acciones del Fondo. Los inversores podrían perder parte o la totalidad de su inversión. Una inversión en el Fondo no es apropiada para todos los inversores y no está destinada a
Ser un programa de inversión completo. El Fondo está diseñado como una inversión a largo plazo para inversores que están preparados para mantener las Acciones Comunes del Fondo hasta el vencimiento de su plazo, y no es un vehículo comercial. Porque el fondo es no diversificado, puede ser más susceptible a eventos económicos, políticos o regulatorios que un fondo diversificado. Los valores de renta fija están sujetos a numerosos riesgos, que incluyen, entre otros, crédito,
riesgos de inflación, ingresos, prepago y tasas de interés. A medida que aumentan las tasas de interés, disminuye el valor de los valores de renta fija. Las empresas del mercado medio tienen riesgos adicionales debido a sus historiales operativos limitados, recursos financieros limitados, menos
resultados operativos predecibles, líneas de productos más estrechas y otros factores. Los valores de los emisores del mercado medio generalmente se consideran de alto rendimiento. Se considera que los valores de renta fija de alto rendimiento de calidad inferior al grado de inversión tienen
características predominantemente especulativas con respecto a la capacidad del emisor para pagar intereses y pagar el principal. Los bonos de alto rendimiento ("bonos basura") están sujetos a un mayor riesgo crediticio y a un mayor riesgo de incumplimiento. El fondo puede invertir
todo o una parte de sus activos administrados en valores ilíquidos. El Fondo puede realizar inversiones significativas en valores para los que no hay precios de mercado observables; los precios deben ser estimados por Western Asset, el subconsejero del Fondo, y
aprobado por el Comité de Valoración del Fondo del Atlántico Norte Legg Mason. Las inversiones en valores extranjeros implican riesgos, incluida la posibilidad de pérdidas debido a cambios en los tipos de cambio de divisas y desarrollos negativos en el ámbito político, económico.
o estructura reguladora de países o regiones específicos. Estos riesgos son mayores en los mercados emergentes. El apalancamiento puede resultar en una mayor volatilidad del valor liquidativo de las acciones comunes y aumenta el riesgo de pérdida de un accionista. Derivado
los instrumentos pueden ser ilíquidos, aumentar desproporcionadamente las pérdidas y tener un impacto potencialmente grande en el rendimiento del Fondo. Las distribuciones no están garantizadas y están sujetas a cambios.

Western Asset Middle Market Income Fund Inc. V

Revisión de desempeño (cont.)

Todas las inversiones están sujetas a riesgos, incluida la posible pérdida de capital. El rendimiento pasado es
Sin garantía de resultados futuros. Todo el rendimiento del índice no refleja ninguna deducción por honorarios, gastos o impuestos. Tenga en cuenta que un inversor no puede invertir directamente en un índice.

yo

El valor del activo neto ("NAV") se calcula restando el total de pasivos, incluidos los pasivos asociados con
apalancamiento financiero (si corresponde), del valor de cierre de todos los valores mantenidos por el Fondo (más todos los demás activos) y dividiendo el resultado (activos netos totales) por el número total de acciones ordinarias en circulación. El NAV fluctúa con los cambios en el
precios de mercado de valores en los que ha invertido el Fondo.

ii

Bloomberg Barclays Corporate Corporate High Yield - 2% Issuer Cap Caa Component es un índice del 2% de emisor Cap
componente del índice Bloomberg Barclays U.S. Corporate High Yield más amplio y está compuesto por el Con calificación Caa valores incluidos en este Índice.

iii

Lipper, Inc., una subsidiaria de propiedad absoluta de Reuters, proporciona información independiente sobre las inversiones colectivas globales. Devoluciones
se basan en el seis meses período terminado el 31 de octubre de 2019, que incluye la reinversión de todas las distribuciones, incluidos los retornos de capital, si los hay, calculados entre los 39 fondos en el Lipper del Fondo
categoría.

VI Western Asset Middle Market Income Fund Inc.

Fondo de un vistazo (sin auditar)

Desglose de inversiones (%) como porcentaje de las inversiones totales

LOGO

El gráfico de barras anterior representa la composición de las inversiones del Fondo al 31 de octubre de 2019 y
30 de abril de 2019 y no incluye derivados como contratos a plazo en moneda extranjera. El fondo se gestiona activamente. Como resultado, la composición de las inversiones del Fondo está sujeta a cambios en cualquier momento.

Representa menos del 0.1%.

Western Seset Middle Market Income Fund Inc. Informe semestral de 2019 1

Calendario de inversiones (sin auditar)

31 de octubre de 2019

Medio activo occidental
Market Income Fund Inc.

Seguridad Velocidad

Madurez

Fecha

Cara

Cantidad†

Valor
Bonos corporativos y pagarés: 76.1%
Servicios de comunicación - 4.5%

Telecomunicaciones diversificadas
Servicios - 0.8%

Cogent Communications Group Inc., Notas garantizadas senior

5.375% 1/3/22 1,200,000 PS1,254,000 (un)

Telecomunicaciones Inalámbricas
Servicios - 3.7%

CSC Holdings LLC, Notas Senior

6.625% 15/10/25 1,000,000 1,067,500 (a) (b)

CSC Holdings LLC, Notas Senior

10.875% 15/10/25 747,000 844,360 (a) (b)

Sprint Communications Inc., Notas Senior

11.500% 15/11/21 815,000 946,419 (si)

Sprint Corp., Notas Senior

7.875% 15/09/23 2,520,000 2,787,750

Telecomunicación inalámbrica total
Servicios

5,646,029

Servicios de comunicación total

6,900,029
Consumo discrecional - 20.0%

Servicios al consumidor diversificados
- 1,4%

Carriage Services Inc., Notas Senior

6.625% 1/6/26 2,080,000 2,173,600 (a) (b)

Hoteles, restaurantes y
Ocio - 17.3%

24 Hour Fitness Worldwide Inc., Notas Senior

8.000% 1/6/22 2,500,000 1,818,750 (a) (b)

Autoridad de desarrollo aguas abajo de la tribu Quapaw de Oklahoma, asegurada por personas mayores
Notas

10.500% 15/2/23 3.830.000 4,050,225 (a) (b)

Golden Entertainment Inc., Notas Senior

7.625% 15/4/26 3,290,000 3,466,837 (a) (b)

Golden Nugget Inc., Notas Senior

8.750% 1/10/25 910,000 960,050 (un)

Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp., Notas garantizadas

10,250% 15/11/22 3,000,000 3,187,500 (a) (b)

Jacobs Entertainment Inc., Notas garantizadas

7.875% 2/1/24 3.818.000 4,066,170 (a) (b)

Nathan’s Famous Inc., Notas garantizadas senior

6.625% 1/11/25 3,770,000 3.826.550 (a) (b)

Sugarhouse HSP Gaming Prop Mezz LP / Sugarhouse HSP Gaming Finance Corp., Senior Secured
Notas

5.875% 15/5/25 3,000,000 2.977.500 (a) (b)

Twin River Worldwide Holdings Inc., Notas Senior

6.750% 1/6/27 1,900,000 2,005,070 (un)

Total de hoteles, restaurantes y
Ocio

26,358,652

Artículos duraderos del hogar -
1.3%

APX Group Inc., Notas Senior

8.750% 1/12/20 2,006,000 1,978,418 (si)

Total del consumidor discrecional

30,510,670

Ver notas a Financial
Declaraciones

2 Western Seset Middle Market Income Fund Inc. Informe semestral de 2019

Mercado medio de activos occidentales
Income Fund Inc.

Seguridad Velocidad

Madurez

Fecha

Cara

Cantidad†

Valor
Productos de consumo básico: 2.0%

Tabaco -
2,0%

Pyxus International Inc., Notas garantizadas

9.875% 15/7/21 4,960,000 PS 3,100,000 (si)
Energía - 21,9%

Equipos de energía y
Servicios - 2.3%

Pride International LLC, Notas Senior

7.875% 15/8/40 2,750,000 1,430,000 (si)

USA Compression Partners LP / USA Compression Finance Corp., Senior Notes

6.875% 4/1/26 2,000,000 2,030,000

Equipo de energía total y
Servicios

3,460,000

Petróleo, Gas y Consumibles
Combustibles - 19,6%

Antero Midstream Partners LP / Antero Midstream Finance Corp., Senior Notes

5.750% 15/1/28 1,990,000 1,512,400 (un)

Berry Petroleum Co. LLC, Notas Senior

7,000% 15/2/26 3,650,000 3,412,750 (un)

Blue Racer Midstream LLC / Blue Racer Finance Corp., Notas Senior

6.125% 15/11/22 2,379,000 2,349,262 (a) (b)

Endeavour Energy Resources LP / EER

Finance Inc., Notas Senior

5.500% 30/1/26 1,200,000 1,242,024 (un)

MEG Energy Corp., Notas Senior

6.375% 30/1/23 1,500,000 1,423,125 (a) (b)

Montage Resources Corp., Notas Senior

8.875% 15/7/23 2,530,000 1,954,425

Oasis Petroleum Inc., Notas Senior

6.500% 1/11/21 4,088,000 3.944.920 (si)

Oasis Petroleum Inc., Notas Senior

6.875% 15/3/22 2,017,000 1,780,003 (si)

Oasis Petroleum Inc., Notas Senior

6.875% 15/1/23 800,000 696,000 (si)

Petrobras Global Finance BV, Notas Senior

6.750% 27/01/41 1,900,000 2,205,188

Shelf Drilling Holdings Ltd., Notas Senior

8.250% 15/2/25 3,470,000 2.932.150 (a) (b)

Teine Energy Ltd., Notas Senior

6.875% 30/09/22 1,620,000 1,628,100 (un)

Transportadora de Gas del Sur SA, Notas Senior

6.750% 25/05/25 3,000,000 2,530,500 (un)

Vesta Energy Corp., Notas Senior

8.125% 24/7/23 3,800,000CANALLA 2,345,723 (un)

Total de petróleo, gas y consumibles
Combustibles

29,956,570

Energía total

33,416,570
Finanzas - 0.6%

Servicios financieros diversificados
- 0.6%

Werner FinCo LP / Werner FinCo Inc., Notas principales

8.750% 15/7/25 1,000,000 873,750 (un)
Cuidado de la salud - 8.4%

Cuidado de la salud
Equipos y suministros - 2.4%

Immucor Inc., Notas Senior

11.125% 15/2/22 3,700,000 3.720.350 (a) (b)

Ver notas a Financial
Declaraciones

Western Seset Middle Market Income Fund Inc. Informe semestral de 2019 3

Calendario de inversiones
(sin auditar) (cont.)

31 de octubre de 2019

Western Asset Middle Market Income Fund Inc.

Seguridad Velocidad

Madurez

Fecha

Cara

Cantidad†

Valor

Cuidado de la salud
Proveedores y servicios: 4.4%

Air Medical Group Holdings Inc., Notas Senior

6.375% 15/5/23 4.860.000 PS4,155,300 (a) (b)

MPH Acquisition Holdings LLC, Notas Senior

7.125% 1/6/24 2,000,000 1,860,100 (a) (b)

Tenet Healthcare Corp., Notas Senior

8.125% 4/1/22 690,000 748,685

Total de proveedores de atención médica y
Servicios

6.764.085

Productos farmacéuticos
1,6%

Bausch Health Cos. Inc., Notas Senior

5.875% 15/5/23 934,000 951,513 (a) (b)

Bausch Health Cos. Inc., Notas Senior

6.125% 15/4/25 280,000 291,375 (un)

Bausch Health Cos. Inc., Notas Senior

9,000% 15/12/25 1,010,000 1,137,714 (un)

Total de productos farmacéuticos

2,380,602

Total Health Care

12,865,037
Industriales - 10.2%

Servicios comerciales &
Suministros - 3.8%

Garda World Security Corp., Notas Senior

7.250% 15/11/21 2,610,000 2,614,567 (a) (b)

Waste Pro USA Inc., Notas principales

5.500% 15/2/26 3,090,000 3.205.875 (a) (b)

Servicios comerciales totales y
Suministros

5,820,442

Maquinaria
- 0.7%

Cleaver-Brooks Inc., Notas garantizadas senior

7.875% 1/3/23 460,000 435,850 (un)

MAI Holdings Inc., pagarés senior garantizados

9.500% 1/6/23 1,320,000 561,000

Maquinaria total

996,850

Marina -
1,8%

Navios Maritime Acquisition Corp./ Navios Acquisition Finance U.S. Inc., Senior Secured
Notas

8.125% 15/11/21 3,390,000 2,779,800 (a) (b)

Carretera y ferrocarril -
2,0%

Flexi-Van Leasing Inc., Notas garantizadas

10.000% 15/2/23 3,120,000 2.979.600 (a) (b)

Companías comerciales &
Distribuidores - 1.9%

Ahern Rentals Inc., Notas garantizadas

7.375% 15/5/23 980,000 798,700 (a) (b)

Emeco Pty Ltd., Bonos Senior Garantizados

9.250% 31/3/22 1,978,824 2,095,575 (si)

Total de empresas comerciales y
Distribuidores

2,894,275

Industriales totales

15,470,967

Ver notas a Financial
Declaraciones

4 4 Western Seset Middle Market Income Fund Inc. Informe semestral de 2019

Western Asset Middle Market Income Fund Inc.

Seguridad Velocidad

Madurez

Fecha

Cara

Cantidad†

Valor
Tecnología de la información - 2.8%

Software - 2.8%

Fair Isaac Corp., Notas Senior

5.250% 15/5/26 3,645,000 PS3.973.050 (a) (b)

Interface Special Holdings Inc., Senior Notes (19.000% PIK)

19.000% 1/11/23 3,310,046 248,253 (a) (c) (d) (e)

Tecnología de información total

4,221,303
Materiales - 3.1%

Productos químicos
1,2%

Techniplas LLC, Notas garantizadas senior

10.000% 1/5/20 2,080,000 1,768,000 (a) (b)

Metales y Minería -
0.1%

Northwest Adquisitions ULC / Dominion Finco Inc., Notas garantizadas

7.125% 1/11/22 410,000 206,025 (un)

Papel y bosque
Productos - 1.8%

Mercer International Inc., Notas Senior

6.500% 2/1/24 1,000,000 1,033,750 (si)

Mercer International Inc., Notas Senior

7.375% 15/1/25 720,000 748,800 (a)

Mercer International Inc., Senior Notes

5.500% 1/15/26 1,000,000 973,080

Total Paper & Forest
Productos

2,755,630

Total Materials

4,729,655
Real Estate — 2.6%

Bienes raíces
Management & Development — 2.6%

Five Point Operating Co. LP/Five Point Capital Corp., Senior Notes

7.875% 11/15/25 2,030,000 1,923,770 (a)

Kennedy-Wilson Inc., Senior Notes

5.875% 4/1/24 2,000,000 2,080,000 (b)

Total Real Estate

4,003,770

Total Corporate Bonds & Notes (Cost —
$121,769,407)

116,091,751
Senior Loans — 35.5%

Communication Services — 1.0%

Diversified Telecommunication
Services — 1.0%

Securus Technologies Holdings Inc., First Lien Initial Term Loan
(1 mo. USD LIBOR +4.500%)

6.286% 11/1/24 1,960,025 1,543,520 (f)(g)(h)
Consumer Discretionary — 10.9%

Commercial Services &
Supplies — 2.6%

Garda World Security Corp., First Lien Term Loan B

10/23/26 2,000,000 1,991,250 (i)

KC Culinarte Intermediate LLC, First Lien Initial Term Loan
(1 mo. USD LIBOR + 3.750%)

5.560% 8/25/25 1,989,900 1,972,488 (f)(g)(h)

Total Commercial Services &
Supplies

3,963,738

See Notes to Financial
Statements.

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 5 5

Schedule of investments
(unaudited) (cont’d)

October 31, 2019

Western Asset Middle Market Income Fund Inc.

Seguridad Rate

Maturity

Fecha

Face

Amount†

Valor

Hotels, Restaurants & Leisure
— 5.1%

Affinity Gaming LLC, Second Lien Initial Term Loan (1 mo. USD LIBOR +8.250%)

10.036% 1/31/25 3,990,000 $3,832,894 (f)(g)(h)

CEC Entertainment Inc., Term Loan B (1 mo. USD LIBOR +6.500%)

8.286% 8/17/26 2,030,000 1,951,338 (f)(g)(h)

Station Casinos LLC, Term Loan Facility B (1 mo. USD LIBOR +2.500%)

4.290% 6/8/23 1,989,627 1,994,827 (f)(g)(h)

Total Hotels, Restaurants &
Leisure

7,779,059

Specialty Retail —
2.2%

Isagenix International LLC, Term Loan (3 mo. USD LIBOR +5.750%)

7.850% 6/16/25 1,874,466 1,440,214 (f)(g)(h)

Spencer Spirit IH LLC, Initial Term Loan

5.000-7.846% 6/12/26 1,980,000 1,940,400 (f)(g)(h)

Total Specialty Retail

3,380,614

Textiles, Apparel & Luxury Goods
— 1.0%

TOMS Shoes LLC, Initial Term Loan (3 mo. USD LIBOR +5.500%)

7.430% 10/30/20 2,442,355 1,581,425 (f)(g)(h)

Total Consumer Discretionary

16,704,836
Consumer Staples — 4.1%

Food Products —
4.1%

8th Avenue Food & Provisions Inc., Second Lien Term Loan (3 mo. USD LIBOR +
7.750%)

9.690% 10/1/26 2,720,000 2,713,200 (d)(f)(g)(h)

CSM Bakery Solutions LLC, Second Lien Term Loan (3 mo. USD LIBOR +7.750%)

9.780% 7/5/21 4,000,000 3,580,000 (d)(f)(g)(h)

Total Consumer Staples

6,293,200
Financials — 4.1%

Diversified Financial Services —
1.2%

GI Revelation Acquisition LLC, First Lien Term Loan (1 mo. USD
LIBOR +5.000%)

6.786% 4/16/25 1,984,875 1,858,339 (f)(g)(h)

Insurance — 2.9%

AIS Holdco LLC, First Lien Term Loan (3 mo. USD LIBOR +5.000%)

6.927% 8/15/25 3,256,500 3,061,110 (d)(f)(g)(h)

AmeriLife Group LLC, First Lien Delayed Draw Term Loan

6/12/26 160,877 160,676 (i)

AmeriLife Group LLC, First Lien Initial Term Loan (1 mo. USD LIBOR +4.500%)

6.286% 6/12/26 1,146,250 1,144,817 (f)(g)(h)

Total Insurance

4,366,603

Total Financials

6,224,942

See Notes to Financial Statements.

6 6 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

Western Asset Middle Market Income Fund Inc.

Seguridad Rate

Maturity

Fecha

Face

Amount†

Valor
Health Care — 5.7%

Health Care Equipment & Supplies
— 0.5%

Air Methods Corp., Initial Term Loan (3 mo. USD LIBOR +3.500%)

5.604% 4/22/24 993,960 $795,583 (f)(g)(h)

Health Care Providers & Services
— 4.3%

Medical Solutions Holdings Inc., First Lien Closing Date Term Loan (1 mo. USD
LIBOR +4.500%)

6.286% 6/14/24 2,030,000 2,022,388 (f)(g)(h)

MPH Acquisition Holdings LLC, Initial Term Loan (3 mo. USD LIBOR +2.750%)

4.854% 6/7/23 1,480,000 1,392,356 (f)(g)(h)

Option Care Health Inc., First Lien Term Loan B (1 mo. USD LIBOR +4.500%)

6.286% 8/6/26 2,000,000 1,970,000 (d)(f)(g)(h)

Radnet Management Inc., First Lien Term Loan B1

5.510-7.500% 6/30/23 1,185,143 1,184,031 (f)(g)(h)

Total Health Care Providers &
Servicios

6,568,775

Pharmaceuticals —
0.9%

Pearl Intermediate Parent LLC, Second Lien Initial Term Loan (1 mo. USD
LIBOR +6.250%)

8.036% 2/13/26 1,350,000 1,317,937 (f)(g)(h)

Total Health Care

8,682,295
Information Technology — 6.2%

IT Services —
4.9%

Access CIG LLC, Second Lien Initial Term Loan (1 mo. USD LIBOR +7.750%)

9.536% 2/13/26 3,470,984 3,453,629 (f)(g)(h)

Datto Inc., Term Loan (1 mo. USD LIBOR +4.250%)

6.036% 4/2/26 1,965,075 1,980,632 (f)(g)(h)

Project Alpha Intermediate Holding Inc., 2019 Incremental Term Loan (3 mo. USD
LIBOR +4.250%)

6.240% 4/26/24 1,965,075 1,962,619 (f)(g)(h)

Total IT Services

7,396,880

Software —
1.3%

DigiCert Holdings Inc., First Lien Initial Term Loan

10/16/26 2,030,000 1,995,322 (i)

Total Information Technology

9,392,202
Real Estate — 1.7%

Real Estate Management &
Development — 1.7%

Coastal Construction Corp., Delayed Draw Term Loan

9/4/24 670,000 651,106 (c)(d)(i)

Coastal Construction Products LLC, Term Loan B (3 mo. USD LIBOR +5.375%)

7.325% 9/4/24 1,980,850 1,924,990 (c)(d)(f)(g)(h)

Total Real Estate

2,576,096

See Notes to Financial
Statements.

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 7 7

Schedule of investments
(unaudited) (cont’d)

October 31, 2019

Western Asset Middle Market Income Fund Inc.

Seguridad

Rate Maturity
Fecha
Face
Amount†
Valor
Utilities — 1.8%

Electric Utilities —
1.8%

Panda Temple Power LLC, Second Lien Term Loan (2 mo. USD LIBOR +8.000%
PIK)

10.054% 2/7/23 2,673,796 $2,688,836 (e)(f)(g)(h)

Total Senior Loans (Cost —
$56,664,246)

54,105,927
Shares
Investments in Underlying Funds — 2.4%

SPDR Bloomberg Barclays Short Term High Yield Bond ETF
(Cost — $3,653,100)

135,000 3,616,650
Common Stocks — 2.3%
Energy — 0.9%

Oil, Gas & Consumable Fuels
— 0.9%

Berry Petroleum Corp.

94,787 890,050

Downstream Development Authority of the Quapaw Tribe of Oklahoma Escrow

3,830,000 0 0 * *(b)(c)(d)(j)

Montage Resources Corp.

92,531 418,240 * *

Total Energy

1,308,290
Health Care — 0.1%

Health Care Providers & Services
— 0.1%

Option Care Health Inc.

59,045 209,019 * *
Utilities — 1.3%

Electric Utilities —
1.3%

Panda Temple Power LLC

91,433 2,011,526 * *(d)

Total Common Stocks (Cost —
$10,265,193)

3,528,835
Rate
Preferred Stocks — 1.3%
Financials — 1.3%

Capital Markets —
1.3%

B. Riley Financial Inc. (Cost — $1,997,500)

6.875% 79,900 2,055,028 (b)

Expiration

Fecha

Warrants
Warrants — 0.4%

Option Care Health Inc. (Cost — $94,113)

6/29/27 263,683 683,730
* *(c)(d)

Total Investments before Short-Term Investments
(Cost — $194,443,559)

180,081,921

See Notes to Financial
Statements.

8 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

Western Asset Middle Market Income Fund Inc.

Seguridad

Rate

Maturity

Fecha

Face

Amount†

Valor
Short-Term Investments — 4.3%
Repurchase Agreements — 1.6%

Bank of America Corp. repurchase agreement dated 10/31/19; Proceeds at maturity —
$2,500,120; (Fully collateralized by U.S. government obligations, 2.000% due 05/31/24; Market value — $2,573,388) (Cost — $2,500,000)

1.730% 11/1/19 2,500,000 2,500,000
Shares
Money Market Funds — 2.7%

Dreyfus Government Cash Management, Institutional Shares (Cost — $4,027,603)

1.691% 4,027,603 $ 4,027,603

Total Short-Term Investments (Cost —
$6,527,603)

6,527,603

Total Investments — 122.3% (Cost —
$200,971,162)

186,609,524

Liabilities in Excess of Other Assets — (22.3)%

(33,993,668)

Total Net Assets — 100.0%

$152,615,856

Face amount denominated in U.S. dollars, unless otherwise noted.

* *

Non-income producing security.

(a)

Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in
transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

(b)

All or a portion of this security is pledged as collateral pursuant to the loan agreement (Note 6).

(c)

Security is valued in good faith in accordance with procedures approved by the Board of Directors (Note 1).

(d)

Security is valued using significant unobservable inputs (Note 1).

(e)

Payment-in-kind security for which the
issuer has the option at each interest payment date of making interest payments in cash or additional securities.

(f)

Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to
multiple contracts under the same loan.

(g)

Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from
the agent bank and/or borrower prior to the disposition of a senior loan.

(h)

Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate
securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(i)

All or a portion of this loan is unfunded as of October 31, 2019. The interest rate for fully unfunded term loans is to be
determined.

(j)

Value is less than $1.

See Notes to Financial Statements.

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 9 9

Schedule of investments
(unaudited) (cont’d)

October 31, 2019

Western Asset Middle Market Income Fund Inc.

Abbreviations used in this
schedule:

CAD — Canadian Dollar
ETF — Exchange-Traded Fund
LIBOR — London Interbank Offered Rate
PIK Payment-In-Kind
SPDR — Standard & Poor’s Depositary Receipts
USD — United States Dollar

At October 31, 2019, the Fund had the following open forward foreign currency contracts:

Currency

Purchased

Currency

Sold

Counterparty

Asentamiento

Fecha

Unrealized

Depreciation

USD 2,671,736 CAD 3,555,941 Barclays Bank PLC 1/17/20 $(29,269)

Abbreviations used in this
table:

CAD — Canadian Dollar
USD — United States Dollar

See Notes to Financial
Statements.

10 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

Statement of assets and liabilities (unaudited)

31 de octubre de 2019

Assets:

Investments, at value (Cost — $200,971,162)

$186,609,524

Foreign currency, at value (Cost — $116,937)

117,208

Cash

45,601

Interest receivable

3,310,682

Prepaid expenses

2,569

Total Assets

190,085,584
Liabilities:

Loan payable (Note 6)

32,300,000

Payable for securities purchased

4,813,266

Investment management fee payable

182,662

Unrealized depreciation on forward foreign currency contracts

29,269

Interest payable

27,976

Directors’ fees payable

15,602

Accrued expenses

100,953

Total Liabilities

37,469,728
Total Net Assets $152,615,856
Net Assets:

Par value ($0.001 par value; 214,026 shares issued and outstanding; 100,000,000 shares
authorized)

$214

Paid-in capital in excess of par value

239,471,211

Total distributable earnings (loss)

(86,855,569)
Total Net Assets $152,615,856
Shares Outstanding 214,026
Net Asset Value $713.07

See Notes to Financial
Statements.

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 11

Statement of operations (unaudited)

For the Six Months Ended October 31, 2019

Investment Income:

Interest

$ 7,791,165

Dividends

173,296

Income from non-cash interest

503,612

Total Investment
Ingresos

8,468,073
Expenses:

Investment management fee (Note 2)

1,193,911

Interest expense (Note 6)

371,548

Transfer agent fees

62,252

Audit and tax fees

38,591

Fund accounting fees

37,099

Directors’ fees

24,802

Legal fees

19,470

Shareholder reports

12,654

Custody fees

3,161

Seguro

1,876

Miscellaneous expenses

7,448

Total Expenses

1,772,812

Less: Fee waivers and/or expense reimbursements (Note 2)

(95,513)

Net Expenses

1,677,299
Net Investment Income 6,790,774

Realized and Unrealized Gain (Loss) on Investments, Forward Foreign
Currency

Contracts and Foreign Currency Transactions (Notes 1, 3 and 4):

Net Realized Gain (Loss) From:

Investment transactions

(892,920)

Forward foreign currency contracts

12,232

Foreign currency transactions

880

Net Realized Loss

(879,808)

Change in Net Unrealized Appreciation (Depreciation) From:

Investments

(7,311,847)

Forward foreign currency contracts

(47,194)

Foreign currencies

942

Change in Net Unrealized Appreciation
(Depreciation)

(7,358,099)
Net Loss on Investments, Forward Foreign Currency Contracts and Foreign Currency Transactions (8,237,907)
Decrease in Net Assets From Operations $(1,447,133)

See Notes to Financial
Statements.

12 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

Statements of changes in net assets

For the Six Months Ended October 31, 2019 (unaudited)
and the Year Ended April 30, 2019
October 31 April 30
Operations:

Net investment income

$ 6,790,774 $ 17,096,536

Net realized loss

(879,808) (4,222,411)

Change in net unrealized appreciation (depreciation)

(7,358,099) 1,953,843

Increase (Decrease) in Net Assets From
Operations

(1,447,133) 14,827,968
Distributions to Shareholders From (Note 1):

Total distributable earnings

(6,880,343) (17,432,726)

Decrease in Net Assets From Distributions
to Shareholders

(6,880,343) (17,432,726)
Fund Share Transactions:

Reinvestment of distributions (1,043 and 2,417 shares issued, respectively)

757,522 1,808,289

Cost of shares repurchased through tender offer (18,143 and 32,435 shares repurchased,
respectively) (Note 5)

(13,144,983) (24,195,474)

Decrease in Net Assets From Fund Share
Transactions

(12,387,461) (22,387,185)

Decrease in Net
Assets

(20,714,937) (24,991,943)
Net Assets:

Beginning of period

173,330,793 198,322,736

End of period

$152,615,856 $173,330,793

See Notes to Financial
Statements.

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 13

Statement of cash flows (unaudited)

For the Six Months Ended October 31, 2019

Increase (Decrease) in Cash:
Cash Provided (Used) by Operating Activities:

Net decrease in net assets resulting from operations

$ (1,447,133)

Adjustments to reconcile net decrease in net assets resulting from operations to net
cash

provided (used) by operating activities:

Purchases of portfolio securities

(49,077,236)

Sales of portfolio securities

51,131,444

Net purchases, sales and maturities of short-term investments

(2,358,461)

Payment-in-kind

(503,612)

Net amortization of premium (accretion of discount)

(719,131)

Decrease in receivable for securities sold

2,932,878

Decrease in interest receivable

107,553

Increase in prepaid expenses

(1,271)

Increase in payable for securities purchased

2,148,266

Decrease in investment management fee payable

(3,401)

Increase in Directors’ fees payable

2,628

Increase in interest payable

5,293

Decrease in accrued expenses

(39,165)

Net realized loss on investments

892,920

Change in net unrealized appreciation (depreciation) of investments and forward foreign

currency contracts

7,359,041

Net Cash Provided by Operating
Activities*

10,430,613
Cash Flows From Financing Activities:

Distributions paid on common stock

(6,122,821)

Proceeds from loan facility borrowings

39,000,000

Repayment of loan facility borrowings

(30,000,000)

Payment for shares repurchased through tender offer

(13,144,983)

Net Cash Used in Financing
Activities

(10,267,804)
Net Increase in Cash and Restricted Cash 162,809
Cash and restricted cash at beginning of period
Cash and restricted cash at end of period $ 162,809

* *

Included in operating expenses is cash of $366,255 paid for interest on borrowings.

The following table provides a reconciliation of cash and restricted cash reported within the Statement of Assets and
Liabilities that sums to the total of such amounts shown on the Statement of Cash Flows.

October 31, 2019
Cash $162,809
Restricted cash
Total cash and restricted cash shown in the Statement of Cash Flows $162,809
Non-Cash Financing Activities:

Proceeds from reinvestment of distributions

$757,522

See Notes to Financial
Statements.

14 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

Financial highlights

For a share of capital stock outstanding throughout each year ended April 30, unless otherwise noted:
20191,2 20191 20181 20171 20161 20151,3
Net asset value, beginning of period $749.94 $759.44 $799.71 $708.75 $915.01 $998.004 4
Income (loss) from operations:

Net investment income

30.36 68.47 76.58 87.83 86.64 50.82

Net realized and unrealized gain (loss)

(36.84) (8.83) (38.51) 93.13 (202.90) (92.81)

Total income (loss) from
operations

(6.48) 59.64 38.07 180.96 (116.26) (41.99)
Less distributions from:

Net investment income

(30.39)5 5 (69.14) (78.34) (90.00) (90.00) (41.00)

Total
distributions

(30.39) (69.14) (78.34) (90.00) (90.00) (41.00)
Net asset value, end of period $713.07 $749.94 $759.44 $799.71 $708.75 $915.01

Total return, based on NAV6 6

(0.91)% 8.20% 5.04% 26.72% (12.74)% (4.11)%
Net assets, end of period (millions) $153 $173 $198 $229 $222 $291
Ratios to average net assets:

Gross expenses

2.14%7 7 2.29% 2.36% 2.45% 1.83% 1.55%7 7

Net expenses

2.037,8 2.178 2.238 2.408 1.83 1.557 7

Net investment income

8.207 7 8.98 9.81 11.37 11.20 7.997 7
Portfolio turnover rate 26% 28% 32% 51% 39% 29%
Supplemental data:

Loan Outstanding, End of Period (000s)

$32,300 $23,300 $47,400 $94,000 $53,000 $53,000

Asset Coverage Ratio for Loan
Outstanding9 9

572% 844% 518% 343% 518% 649%

Asset Coverage, per $1,000 Principal Amount of Loan Outstanding9 9

$5,725 $8,439 $5,184 $3,431 $5,181 $6,486

Weighted Average Loan (000s)

$25,335 $36,567 $58,175 $88,175 $53,000 $40,11810

Weighted Average Interest Rate on Loan

2.92% 3.00% 2.08% 1.37% 1.00% 0.89%10

See Notes to Financial
Statements.

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 15

Financial highlights (cont’d)

1

Per share amounts have been calculated using the average shares method.

2

For the six months ended October 31, 2019 (unaudited).

3

For the period August 26, 2014 (commencement of operations) to April 30, 2015.

4 4

Initial public offering price of $1,000.00 per share, exclusive of sales load, less offering costs of $2.00 per share.

5 5

The actual source of the Fund’s current fiscal year distributions may be from net investment income, return of
capital or a combination of both. Shareholders will be informed of the tax characteristics of the distributions after the close of the fiscal year.

6 6

Performance figures may reflect compensating balance arrangements, fee waivers and/or expense reimbursements. En el
absence of compensating balance arrangements, fee waivers and/or expense reimbursements, the total return would have been lower. Past performance is no guarantee of future results. Total returns for periods of less than one year are not annualized.

8

Reflects fee waivers and/or expense reimbursements.

9 9

Represents value of net assets plus the loan outstanding at the end of the period divided by the loan outstanding at the
end of the period.

10

Weighted average based on the number of days that the Fund had a loan outstanding.

See Notes to Financial Statements.

dieciséis Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

Notes to financial statements (unaudited)

1. Organization and significant accounting policies

Western Asset Middle Market Income Fund Inc. (the “Fund”) was incorporated in Maryland on June 29, 2011 and is registered as a non-diversified,
limited-term closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund commenced operations on August 26, 2014. The Fund’s
primary investment objective is to provide high income. As a secondary objective, the Fund seeks capital appreciation. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its managed
assets (the net assets of the Fund plus the principal amount of any borrowings and any preferred stock that may be outstanding) in securities, including loans, issued by middle market companies. For investment purposes, “middle market”
refers to companies with annual revenues of between $100 million and $1 billion at the time of investment by the Fund. Securities of middle market issuers are typically considered below investment grade (also commonly referred to as
“junk bonds”). It is anticipated that the Fund will terminate on or before December 30, 2022. Upon its termination, it is anticipated that the Fund will have distributed substantially all of its net assets to stockholders, although
securities for which no market exists or securities trading at depressed prices, if any, may be placed in a liquidating trust.

On October 31, 2019, the Board
of Directors of the Fund approved amendments to the Fund’s bylaws. The amended and restated bylaws were subsequently filed on Form 8-K and are available on the SEC’s website at www.sec.gov.

The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles
(“GAAP”). Estimates and assumptions are required to be made regarding assets, liabilities and changes in net assets resulting from operations when financial statements are prepared. Changes in the economic environment, financial markets
and any other parameters used in determining these estimates could cause actual results to differ. Subsequent events have been evaluated through the date the financial statements were issued.

(a) Investment valuation. The valuations for fixed income securities (which
may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party
pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services use inputs that are observable such as issuer details, interest rates,
yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on
the day of valuation. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other
assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 17

Notes to financial statements
(unaudited) (cont’d)

third party pricing services are unable to supply prices for a portfolio investment, or if the
prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has
yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the
security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.

The Board of Directors is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Legg Mason North Atlantic Fund
Valuation Committee (the “Valuation Committee”). The Valuation Committee, pursuant to the policies adopted by the Board of Directors, is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s
pricing policies, and reporting to the Board of Directors. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing
vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it
deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis;
book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances.
Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time
of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price
and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For
each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the
results of such back testing monthly and fair valuation occurrences are reported to the Board of Directors quarterly.

The Fund uses valuation techniques to measure
fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by

18 años Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are
summarized in the three broad levels listed below:

Level 1 — quoted prices in active markets for identical investments

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates,
prepayment speeds, credit risk, etc.)

Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of
investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those
securities.

The following is a summary of the inputs used in valuing the Fund’s assets and liabilities carried at fair value:

ASSETS
Descripción Quoted Prices
(Level 1)
Other Significant
Observable Inputs
(Level 2)

Significant

Unobservable
Entradas
(Level 3)

Total
Long-Term Investments†:

Corporate Bonds & Notes:

Information Technology

$ 3,973,050 $ 248,253 $ 4,221,303

Other Corporate Bonds & Notes

111,870,448 111,870,448

Senior Loans:

Consumer Staples

6,293,200 6,293,200

Financials

3,163,832 3,061,110 6,224,942

Health Care

6,712,295 1,970,000 8,682,295

Bienes raíces

2,576,096 2,576,096

Other Senior Loans

30,329,394 30,329,394

Investments in Underlying Funds

$ 3,616,650 3,616,650

Common Stocks:

Energy

1,308,290 0 0* * 1,308,290

Health Care

209,019 209,019

Utilities

2,011,526 2,011,526

Preferred Stocks

2,055,028 2,055,028

Warrants

683,730 683,730
Total Long-Term Investments 7,188,987 156,049,019 16,843,915 180,081,921
Short-Term Investments!:

Repurchase Agreements

2,500,000 2,500,000

Money Market Funds

4,027,603 4,027,603
Total Short-Term Investments 4,027,603 2,500,000 6,527,603
Total Investments $11,216,590 $158,549,019 $16,843,915 $186,609,524

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 19

Notes to financial statements
(unaudited) (cont’d)

LIABILITIES
Descripción

Quoted Prices

(Level 1)

Other Significant

Observable Inputs

(Level 2)

Significant

Unobservable
Entradas

(Level 3)

Total
Other Financial Instruments:

Forward Foreign Currency Contracts

$ 29,269 $ 29,269

See Schedule of Investments for additional detailed categorizations.

* *

Amount represents less than $1.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

Investments in Securities

Balance

as of

April 30,

2019

Accrued

premiums/

discounts

Realized

gain (loss)1

Change in

unrealized

appreciation

(depreciation)2

Purchases
Corporate Bonds & Notes:

Energy

$0 0* * $0 0* *

Health Care

4,246,529 $ 5,894 650,219 $(456,830) $ 183,577

Information

Tecnología

Senior Loans:

Consumer Discretionary

1,902,735 97,049 315 (405,887)

Consumer Staples

4,342,650 4,456 (1,154) 40,898

Financials

5,211,484 1,464 229 (241,928)

Health Care

(30,000) 2,000,000

Bienes raíces

2,619,936 2,233 214 (21,275)
Common Stocks:

Energy

0 0* *

Utilities

1,965,810 45,716
Warrants 282,624 0 0* * 432,478 94,113
Total $20,571,768 $111,096 $649,823 $(636,828) $2,277,690

20 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

Investments in Securities
(cont’d)
Ventas

Traslados

dentro

Level 33

Traslados
fuera de

Level 34 4

Balance as
de

October 31,

2019

Net change
en
unrealized
appreciation

(depreciation)

para

investments
in securities
still held at
October
31,
20192

Corporate Bonds & Notes:

Energy

$(0)* *

Health Care

(4,629,389)

Information

Tecnología

$ 248,253 $ 248,253
Senior Loans:

Consumidor

Discretionary

(12,787) $(1,581,425)

Consumer Staples

(4,386,850) 6,293,200 6,293,200

Financials

(51,800) (1,858,339) 3,061,110 $(122,224)

Health Care

1,970,000 (30,000)

Bienes raíces

(25,012) 2,576,096 (21,275)
Common Stocks:

Energy

0 0* *

Utilities

2,011,526 45,716
Warrants (125,485) 683,730 589,617
Total $(9,231,323) $6,541,453 $(3,439,764) $16,843,915 $ 461,834

* *

Amount represents less than $1.

1

This amount is included in net realized gain (loss) from investment transactions in the accompanying Statement of
Operations.

2

This amount is included in the change in net unrealized appreciation (depreciation) in the accompanying Statement of
Operations. Change in unrealized appreciation (depreciation) includes net unrealized appreciation (depreciation) resulting from changes in investment values during the reporting period and the reversal of previously recorded unrealized appreciation
(depreciation) when gains or losses are realized.

3

Transferred into Level 3 as a result of the unavailability of a quoted price in an active market for an identical
investment or the unavailability of other significant observable inputs.

4 4

Transferred out of Level 3 as a result of the availability of a quoted price in an active market for an identical
investment or the availability of other significant observable inputs.

The following table summarizes the valuation techniques used and
unobservable inputs approved by the Valuation Committee to determine the fair value of certain, material Level 3 investments. The table does not include Level 3 investments with values derived utilizing

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 21

Notes to financial statements
(unaudited) (cont’d)

prices from prior transactions or third party pricing information without adjustment (e.g., broker
quotes, pricing services, net asset values).

Fair Value
at 10/31/19
(000’s)

Valuation

Technique(s)

Unobservable Input(s)

Range/Average

impact to Valuation
from an Increase in

Input*

Senior Loans $2,576 Market Approach Yield to

Maturity

2.596%-8.148%

range

4.414% average

Decrease
Transaction
Spread
3.239% Decrease

* *

This column represents the directional change in the fair value of the Level 3 investments that would result in an
increase from the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these unobservable inputs in isolation could result in significantly higher or lower fair
value measurements.

(b) Purchased options. Cuando el
Fund purchases an option, an amount equal to the premium paid by the Fund is recorded as an investment on the Statement of Assets and Liabilities, the value of which is
marked-to-market to reflect the current market value of the option purchased. If the purchased option expires, the Fund realizes a loss equal to the amount of premium
paid. When an instrument is purchased or sold through the exercise of an option, the related premium paid is added to the basis of the instrument acquired or deducted from the proceeds of the instrument sold. The risk associated with purchasing put
and call options is limited to the premium paid.

(c) Forward foreign currency contracts. The Fund enters into a forward foreign currency contract to hedge against foreign currency exchange rate risk on its non-U.S. dollar denominated securities or to facilitate
settlement of a foreign currency denominated portfolio transaction. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price with delivery and settlement at a future date. The contract is marked-to-market daily and the change in value is recorded by the Fund as an unrealized gain or loss. When a forward foreign currency contract is closed, through either
delivery or offset by entering into another forward foreign currency contract, the Fund recognizes a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time
it is closed.

Forward foreign currency contracts involve elements of market risk in excess of the amounts reflected on the Statement of Assets and
Liabilities. The Fund bears the risk of an unfavorable change in the foreign exchange rate underlying the forward foreign currency contract. Risks may also arise upon entering into these contracts from the potential inability of the counterparties
to meet the terms of their contracts.

(d) Loan participations. los
Fund may invest in loans arranged through private negotiation between one or more financial institutions. The Fund’s investment in any such loan may

22 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

be in the form of a participation in or an assignment of the loan. In connection with purchasing participations, the Fund generally will have no right to enforce compliance by the borrower with
the terms of the loan agreement related to the loan, or any rights of off-set against the borrower and the Fund may not benefit directly from any collateral supporting the loan in which it has purchased the
participation.

The Fund assumes the credit risk of the borrower, the lender that is selling the participation and any other persons interpositioned between the Fund
and the borrower. In the event of the insolvency of the lender selling the participation, the Fund may be treated as a general creditor of the lender and may not benefit from any off-set between the lender and
the borrower.

(e) Unfunded loan commitments. The Fund may enter into
certain credit agreements where all or a portion of which may be unfunded. The Fund is obligated to fund these commitments at the borrower’s discretion. The commitments are disclosed in the accompanying Schedule of Investments. At
October 31, 2019, the Fund had sufficient cash and/or securities to cover these commitments.

(f)
Repurchase agreements.
The Fund may enter into repurchase agreements with institutions that its investment manager has determined are creditworthy. Each repurchase agreement is recorded at cost. Bajo la
terms of a typical repurchase agreement, the Fund acquires a debt security subject to an obligation of the seller to repurchase, and of the Fund to resell, the security at an agreed-upon price and time, thereby determining the yield during the
Fund’s holding period. When entering into repurchase agreements, it is the Fund’s policy that its custodian or a third party custodian, acting on the Fund’s behalf, take possession of the underlying collateral securities, the market
value of which, at all times, at least equals the principal amount of the repurchase transaction, including accrued interest. To the extent that any repurchase transaction maturity exceeds one business day, the value of the collateral is marked-to-market and measured against the value of the agreement in an effort to ensure the adequacy of the collateral. If the counterparty defaults, the Fund generally has
the right to use the collateral to satisfy the terms of the repurchase transaction. However, if the market value of the collateral declines during the period in which the Fund seeks to assert its rights or if bankruptcy proceedings are commenced
with respect to the seller of the security, realization of the collateral by the Fund may be delayed or limited.

(g) Cash flow information. The Fund invests in securities and distributes dividends from net investment income and net realized gains, which are paid in cash and
may be rein vested at the discretion of shareholders. These activities are reported in the Statement of Changes in Net Assets and additional information on cash receipts and cash payments are presented in the Statement of Cash Flows.

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 23

Notes to financial statements
(unaudited) (cont’d)

(h) Foreign currency translation. Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates on the date of valuation. Purchases and sales of
investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates on the respective dates of such transactions.

The Fund does not isolate that portion of the results of operations resulting from fluctuations in foreign exchange rates on investments from the fluctuations arising
from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments.

Net realized
foreign exchange gains or losses arise from sales of foreign currencies, including gains and losses on forward foreign currency contracts, currency gains or losses realized between the trade and settlement dates on securities transactions, and the
difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise
from changes in the values of assets and liabilities, other than investments in securities, on the date of valuation, resulting from changes in exchange rates.

Foreign security and currency transactions may involve certain considerations and risks not typically associated with
those of U.S. dollar denominated transactions as a result of, among other factors, the possibility of lower levels of governmental supervision and regulation of foreign securities markets and the possibility of political or economic instability.

(i) Credit and market risk. The Fund invests in
high-yield and emerging market instruments that are subject to certain credit and market risks. The yields of high-yield and emerging market debt obligations reflect, among other things, perceived credit and market risks. The Fund’s investments
in securities rated below investment grade typically involve risks not associated with higher rated securities including, among others, greater risk related to timely and ultimate payment of interest and principal, greater market price volatility
and less liquid secondary market trading. The consequences of political, social, economic or diplomatic changes may have disruptive effects on the market prices of investments held by the Fund. The Fund’s investments in non-U.S. dollar denominated securities may also result in foreign currency losses caused by devaluations and exchange rate fluctuations.

(j) Foreign investment risks. The Fund’s investments in foreign
securities may involve risks not present in domestic investments. Since securities may be denominated in foreign currencies, may require settlement in foreign currencies or pay interest or dividends in foreign currencies, changes in the relationship
of these foreign currencies to the U.S. dollar can significantly affect the value of the investments and earnings of the Fund. Foreign

24 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

investments may also subject the Fund to foreign government exchange restrictions, expropriation, taxation or other political, social or economic developments, all of which affect the market
and/or credit risk of the investments.

(k) Counterparty risk and credit-risk-related contingent features of
derivative instruments.
The Fund may invest in certain securities or engage in other transactions, where the Fund is exposed to counterparty credit risk in addition to broader market risks. The Fund may
invest in securities of issuers, which may also be considered counterparties as trading partners in other transactions. This may increase the risk of loss in the event of default or bankruptcy by the counterparty or if the counterparty otherwise
fails to meet its contractual obligations. The Fund’s subadviser attempts to mitigate counterparty risk by (i) periodically assessing the creditworthiness of its trading partners, (ii) monitoring and/or limiting the amount of its net
exposure to each individual counterparty based on its assessment and (iii) requiring collateral from the counterparty for certain transactions. Market events and changes in overall economic conditions may impact the assessment of such
counterparty risk by the subadviser. In addition, declines in the values of underlying collateral received may expose the Fund to increased risk of loss.

With exchange traded and centrally cleared derivatives, there is less counterparty risk to the Fund since the exchange or clearinghouse, as counterparty to such
instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, the credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law,
the Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default of the clearing broker or clearinghouse.

The Fund has entered into master agreements, such as an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or
similar agreement, with certain of its derivative counterparties that govern over-the-counter derivatives and provide for general obligations, representations,
agreements, collateral posting terms, netting provisions in the event of default or termination and credit related contingent features. The credit related contingent features include, but are not limited to, a percentage decrease in the Fund’s
net assets or NAV over a specified period of time. If these credit related contingent features were triggered, the derivatives counterparty could terminate the positions and demand payment or require additional collateral.

Under an ISDA Master Agreement, the Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and/or
receivables with collateral held and/or posted and create one single net payment. However, absent an event of default by the counterparty or a termination of the agreement, the terms of the ISDA Master Agreements do not result in an offset of
reported amounts of financial assets and

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 25

Notes to financial statements
(unaudited) (cont’d)

financial liabilities in the Statement of Assets and Liabilities across transactions between the
Fund and the applicable counterparty. The enforceability of the right to offset may vary by jurisdiction.

Collateral requirements differ by type of derivative.
Collateral or margin requirements are set by the broker or exchange clearinghouse for exchange traded derivatives while collateral terms are contract specific for
over-the-counter traded derivatives. Cash collateral that has been pledged to cover obligations of the Fund under derivative contracts, if any, will be reported
separately in the Statement of Assets and Liabilities. Securities pledged as collateral, if any, for the same purpose are noted in the Schedule of Investments.

Como
of October 31, 2019, the Fund held forward foreign currency contracts with credit related contingent features which had a liability position of $29,269. If a contingent feature in the master agreements would have been triggered, the Fund would
have been required to pay this amount to its derivatives counterparties.

(l) Security transactions and investment
income.
Security transactions are accounted for on a trade date basis. Interest income (including interest income from
payment-in-kind securities), adjusted for amortization of premium and accretion of discount, is recorded on the accrual basis. Paydown gains and losses on mortgage- and
asset-backed securities are recorded as adjustments to interest income. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. Foreign dividend income is recorded
on the ex-dividend date or as soon as practicable after the Fund determines the existence of a dividend declaration after exercising reasonable due diligence. The cost of investments sold is determined by use
of the specific identification method. To the extent any issuer defaults or a credit event occurs that impacts the issuer, the Fund may halt any additional interest income accruals and consider the realizability of interest accrued up to the date of
default or credit event.

(m) Distributions to shareholders.

Distributions from net investment income of the Fund, if any, are declared and paid on a quarterly basis. The actual source of the Fund’s current fiscal year distributions may be from net investment income, return of capital or a combination of
ambos. Shareholders will be informed of the tax characteristics of the distributions after the close of the fiscal year. Distributions of net realized gains, if any, are declared at least annually. Distributions to shareholders of the Fund are
recorded on the ex-dividend date and are determined in accordance with income tax regulations, which may differ from GAAP.

(n) Compensating balance arrangements. The Fund has an arrangement with its
custodian bank whereby a portion of the custodian’s fees is paid indirectly by credits earned on the Fund’s cash on deposit with the bank.

(o) Federal and other taxes. It is the Fund’s policy to comply with the federal income and excise tax requirements of the Internal Revenue Code of 1986 (the
“Code”), as amended,

26 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

applicable to regulated investment companies. Accordingly, the Fund intends to distribute its taxable income and net realized gains, if any, to shareholders in accordance with timing requirements
imposed by the Code. Therefore, no federal or state income tax provision is required in the Fund’s financial statements.

Management has analyzed the
Fund’s tax positions taken on income tax returns for all open tax years and has concluded that as of April 30, 2019, no provision for income tax is required in the Fund’s financial statements. The Fund’s federal and state income
and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

(p) Reclassification. GAAP requires that certain components of net assets
be reclassified to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share.

2. Investment management agreement and other transactions with affiliates

Legg Mason Partners Fund Advisor, LLC (“LMPFA”) is the Fund’s investment manager. Western Asset Management Company, LLC (“Western Asset”) is the
Fund’s subadviser. Western Asset Management Company Limited (“Western Asset Limited”), Western Asset Management Company Pte. Ltd. (“Western Asset Singapore”) and Western Asset Management Company Ltd (“Western Asset
Japan”) serve as additional subadvisers to the Fund, pursuant to separate subadvisory agreements with Western Asset. LMPFA, Western Asset, Western Asset Limited, Western Asset Singapore and Western Asset Japan are wholly-owned subsidiaries of
Legg Mason, Inc. (“Legg Mason”).

LMPFA provides administrative and certain oversight services to the Fund. The Fund pays LMPFA an investment management
fee, calculated daily and paid monthly, at an annual rate of 1.25% of the Fund’s average daily managed assets, which are net assets of the Fund plus the principal amount of any borrowings and any preferred stock that may be outstanding.
Effective December 1, 2016, LMPFA implemented a voluntary investment management fee waiver of 0.10% that will continue until November 30, 2020.

LMPFA
delegates to Western Asset the day-to-day portfolio management of the Fund. Western Asset Limited, Western Asset Singapore and Western Asset Japan provide certain
subadvisory services to the Fund relating to currency transactions and investments in non-U.S. dollar denominated debt securities. For its services, LMPFA pays Western Asset monthly 90% of the net management
fee it receives from the Fund. In turn, Western Asset pays Western Asset Limited, Western Asset Singapore and Western Asset Japan a fee for their services at no additional expense to the Fund. Western Asset pays each of Western Asset Limited,
Western Asset Singapore and Western Asset Japan a monthly subadvisory fee in an amount equal to 100% of the management fee paid to Western Asset on the assets that Western Asset allocates to each such non-U.S.
subadviser to manage.

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 27

Notes to financial statements
(unaudited) (cont’d)

During periods in which the Fund utilizes financial leverage, the fees paid to LMPFA will be
higher than if the Fund did not utilize leverage because the fees are calculated as a percentage of the Fund’s assets, including those investments purchased with leverage.

During the six months ended October 31, 2019, fees waived and/or expenses reimbursed

amounted to $95,513.

All officers and one Director of the Fund are employees of Legg
Mason or its affiliates and do not receive compensation from the Fund.

3. Investments

During the six months ended October 31, 2019, the aggregate cost of purchases and proceeds from sales of investments (excluding short-term investments) were as
follows:

Purchases $49,077,236
Ventas 51,131,444

At October 31, 2019, the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of
investments for federal income tax purposes were substantially as follows:

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

Depreciation

Net

Unrealized

Depreciation

Securities $200,971,162 $6,098,315 $(20,459,953) $(14,361,638)
Forward foreign currency contracts (29,269) (29,269)

4. Derivative instruments and hedging activities

Below is a table, grouped by derivative type, that provides information about the fair value and the location of derivatives within the Statement of Assets and
Liabilities at October 31, 2019.

LIABILITY DERIVATIVES1
Foreign
Exchange Risk
Forward foreign currency contracts $29,269

1

Generally, the balance sheet location for asset derivatives is receivables/net unrealized appreciation (depreciation) and
for liability derivatives is payables/net unrealized appreciation (depreciation).

28 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

The following tables provide information about the effect of derivatives and hedging activities on the Fund’s
Statement of Operations for the six months ended October 31, 2019. The first table provides additional detail about the amounts and sources of gains (losses) realized on derivatives during the period. The second table provides additional
information about the change in unrealized appreciation (depreciation) resulting from the Fund’s derivatives and hedging activities during the period.

AMOUNT OF REALIZED GAIN (LOSS) ON DERIVATIVES RECOGNIZED
Foreign
Exchange Risk

Equity

Risk

Total
Purchased options1 $101,976 $101,976
Forward foreign currency contracts $12,232 12,232
Total $12,232 $101,976 $114,208

1

Net realized gain (loss) from purchased options is reported in net realized gain (loss) from investment transactions in
the Statement of Operations.

CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON DERIVATIVES RECOGNIZED
Foreign
Exchange Risk

Equity

Risk

Total
Purchased options1 $108,046 $108,046
Forward foreign currency contracts $(47,194) (47,194)
Total $(47,194) $108,046 $ 60,852

1

The change in unrealized appreciation (depreciation) from purchased options is reported in the change in net unrealized
appreciation (depreciation) from investments in the Statement of Operations.

During the six months ended October 31, 2019, the volume of
derivative activity for the Fund was as follows:

Average Market

Valor

Purchased options† $ 51,279
Forward foreign currency contracts (to sell) 2,680,963

At October 31, 2019, there were no open positions held in this derivative.

The following table presents the Fund’s OTC derivative assets and liabilities by counterparty net of amounts available for offset under an ISDA Master Agreement and
net of the related collateral pledged (received) by the Fund as of October 31, 2019.

Counterparty

Gross Assets
Subject to
Maestro
Agreements
Gross
Liabilities
Subject to
Maestro
Agreements1

Net Assets
(Liabilities)

Subject to

Maestro

Agreements

Collateral

Pledged

(Received)

Net

Amount2

Barclays Bank PLC $(29,269) $(29,269) $(29,269)

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 29

Notes to financial statements
(unaudited) (cont’d)

1

Absent an event of default or early termination, derivative assets and liabilities are presented gross and not offset in
the Statement of Assets and Liabilities.

2

Represents the net amount receivable (payable) from (to) the counterparty in the event of default.

5. Tender offers

During the prior fiscal year,
on May 11, 2018, the Fund announced that the Fund’s Board of Directors had approved a tender offer to purchase for cash up to 2.5% of the Fund’s outstanding shares of common stock (“Shares”) or 6,521 Shares of the Fund. los
tender offer was conducted at a price equal to the Fund’s net asset value per Share of the Fund’s Shares on the day on which the tender offer expired. The tender offer commenced on June 4, 2018 and expired on July 3, 2018. On
July 9, 2018, the Fund announced the final results of the tender offer. A total of 21,826 Shares were duly tendered and not withdrawn. Because the number of Shares tendered exceeded 6,521 Shares, the tender offer was oversubscribed. Por lo tanto,
in accordance with the terms and conditions specified in the tender offer, the Fund purchased Shares from all tendering stockholders on a pro rata basis, disregarding fractions. Accordingly, on a pro rata basis, approximately 30% of Shares for each
stockholder who properly tendered Shares were accepted for payment. The Fund transmitted payment to purchase the duly tendered and accepted Shares on July 9, 2018. The purchase price of properly tendered Shares was $762.48 per Share, equal to
the Fund’s per Share net asset value as of the close of the regular trading session of the New York Stock Exchange on July 3, 2018. Shares repurchased and the corresponding dollar amount are included on the Statements of Changes in
Net Assets. Shares that were tendered but not accepted for payment and Shares that were not tendered will remain outstanding.

During the prior fiscal year, on
August 17, 2018, the Fund announced that the Fund’s Board of Directors had approved a tender offer to purchase for cash up to 2.5% of the Fund’s out standing Shares or 6,378 Shares of the Fund. The tender offer was conducted at a
price equal to the Fund’s net asset value per Share of the Fund’s Shares on the day on which the tender offer expired. The tender offer commenced on September 4, 2018 and expired on October 3, 2018. On October 8, 2018, the
Fund announced the final results of the tender offer. A total of 22,984 Shares were duly tendered and not withdrawn. Because the number of Shares tendered exceeded 6,378 Shares, the tender offer was oversubscribed. Therefore, in accordance with the
terms and conditions specified in the tender offer, the Fund purchased Shares from all tendering stockholders on a pro rata basis, disregarding fractions. Accordingly, on a pro rata basis, approximately 28% of Shares for each stockholder who
properly tendered Shares were accepted for payment. The Fund transmitted payment to purchase the duly tendered and accepted Shares on October 9, 2018. The purchase price of properly tendered Shares was $783.70 per Share, equal to the
Fund’s per Share net asset value as of the close of the regular trading session of the New York Stock Exchange on October 3, 2018. Shares repurchased and the corresponding dollar amount are included on the Statements of Changes in Net
Assets. Shares that were tendered but not accepted for payment and Shares that were not tendered will remain outstanding.

30 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

During the prior fiscal year, on November 9, 2018, the Fund announced that the Fund’s Board of Directors had
approved a tender offer to purchase for cash up to 2.5% of the Fund’s out-standing Shares. The Fund also reserved the right to purchase up to an additional 2% of the Fund’s outstanding shares without
amending or extending the offer (“Additional Shares”). The tender offer was conducted at a price equal to the Fund’s net asset value per Share of the Fund’s Shares on the day on which the tender offer expired. The tender offer
commenced on November 30, 2018 and expired on January 2, 2019. On January 7, 2019, the Fund announced the final results of the tender offer. A total of 18,841 Shares were duly tendered and not withdrawn. Because the number of Shares
tendered exceeded 8,728 Shares, including Additional Shares accepted for purchase by the Fund, the tender offer was oversubscribed. Therefore, in accordance with the terms and conditions specified in the tender offer, the Fund purchased Shares from
all tendering stockholders on a pro rata basis, excluding any odd lot transactions and disregarding fractions. Accordingly, on a pro rata basis, approximately 42% of Shares for each stockholder who properly tendered Shares were accepted for payment.
The Fund transmitted payment to purchase the duly tendered and accepted Shares on January 7, 2019. The purchase price of properly tendered Shares was $710.70 per Share, equal to the Fund’s per Share net asset value as of the close of the
regular trading session of the New York Stock Exchange on January 2, 2019. Shares repurchased and the corresponding dollar amount are included on the Statements of Changes in Net Assets. Shares that were tendered but not accepted for
payment and Shares that were not tendered will remain outstanding.

During the prior fiscal year, on February 15, 2019, the Fund announced that the Fund’s
Board of Directors had approved a tender offer to purchase for cash up to 2.5% of the Fund’s out-standing Shares. The Fund also reserved the right to purchase up to an additional 2% of the Fund’s
outstanding Shares without amending or extending the offer. The tender offer was conducted at a price equal to the Fund’s net asset value per Share of the Fund’s Shares on the day on which the tender offer expired. The tender offer
commenced on March 6, 2019 and expired on April 4, 2019. On April 8, 2019, the Fund announced the final results of the tender offer. A total of 21,839 Shares were duly tendered and not withdrawn. Because the number of Shares tendered
exceeded 10,808 Shares, including Additional Shares accepted for purchase by the Fund, the tender offer was oversubscribed. Therefore, in accordance with the terms and conditions specified in the tender offer, the Fund purchased Shares from all
tendering stockholders on a pro rata basis, excluding any odd lot transactions and disregarding fractions. Accordingly, on a pro rata basis, approximately 47% of Shares for each stockholder who properly tendered Shares were accepted for payment. los
Fund transmitted payment to purchase the duly tendered and accepted Shares on April 8, 2019. The purchase price of properly tendered Shares was $742.22 per Share, equal to the Fund’s per Share net asset value as of the close of the regular
trading session of the New York Stock Exchange on April 4, 2019. Shares repurchased and the corresponding dollar amount are

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 31

Notes to financial statements
(unaudited) (cont’d)

included on the Statements of Changes in Net Assets. Shares that were tendered but not accepted
for payment and Shares that were not tendered will remain outstanding.

On May 20, 2019, the Fund announced that the Fund’s Board of Directors had approved
a tender offer to purchase for cash up to 2.5% of the Fund’s outstanding Shares. The Fund also reserved the right to purchase up to an additional 2% of the Fund’s outstanding Shares without amending or extending the offer. The tender offer
was conducted at a price equal to the Fund’s net asset value per Share of the Fund’s Shares on the day on which the tender offer expired. The tender offer commenced on June 3, 2019 and expired on July 2, 2019. On July 8,
2019, the Fund announced the final results of the tender offer. A total of 21,409 Shares were duly tendered and not withdrawn. Because the number of Shares tendered exceeded 10,400 Shares, including Additional Shares accepted for purchase by the
Fund, the tender offer was oversubscribed. Therefore, in accordance with the terms and conditions specified in the tender offer, the Fund purchased Shares from all tendering stockholders on a pro rata basis, excluding any odd lot transactions and
disregarding fractions. Accordingly, on a pro rata basis, approximately 45% of Shares for each stockholder who properly tendered Shares were accepted for payment. The purchase price of properly tendered Shares was $734.93 per Share, equal to the
Fund’s per Share net asset value as of the close of the regular trading session of the New York Stock Exchange on July 2, 2019. Shares repurchased and the corresponding dollar amount are included on the Statement of Changes. Shares that
were tendered but not accepted for payment and Shares that were not tendered will remain outstanding.

On August 16, 2019, the Fund announced that the
Fund’s Board of Directors had approved a tender offer to purchase for cash up to 2.5% of the Fund’s outstanding Shares. The Fund also reserved the right to purchase up to an additional 2% of the Fund’s outstanding shares without
amending or extending the offer. The tender offer was conducted at a price equal to the Fund’s net asset value per Share of the Fund’s Shares on the day on which the tender offer expired. The tender offer commenced on September 4,
2019 and expired on October 3, 2019. On October 7, 2019, the Fund announced the final results of the tender offer. A total of 18,625 Shares were duly tendered and not withdrawn. Because the number of Shares tendered exceeded 7,743 Shares,
including Additional Shares accepted for purchase by the Fund, the tender offer was oversubscribed. Therefore, in accordance with the terms and conditions specified in the tender offer, the Fund purchased Shares from all tendering stockholders on a
pro rata basis, excluding any odd lot transactions and disregarding fractions. Accordingly, on a pro rata basis, approximately 42% of Shares for each stockholder who properly tendered Shares were accepted for payment. The purchase price of properly
tendered Shares was $710.54 per Share, equal to the Fund’s per Share net asset value as of the close of the regular trading session of the New York Stock Exchange on October 3, 2019. Shares repurchased and the corresponding dollar amount
are included on the Statement of Changes. Shares that were tendered but not accepted for payment and Shares that were not tendered will remain outstanding.

32 Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report

6. Loan

The Fund has a revolving credit agreement with Pershing LLC that allows the Fund to borrow up to an aggregate amount of $136,000,000, subject to approval by Pershing
LLC, and renews daily for a 180-day term unless notice to the contrary is given to the Fund. The interest on the loan is calculated at a variable rate based on the
one-month LIBOR plus any applicable margin. To the extent of the borrowing outstanding, the Fund is required to maintain collateral in a special custody account at the Fund’s custodian on behalf of
Pershing LLC. The Fund’s credit agreement contains customary covenants that, among other things, may limit the Fund’s ability to pay distributions in certain circumstances, incur additional debt, change its fundamental investment policies
and engage in certain transactions, including mergers and consolidations, and require asset coverage ratios in addition to those required by the 1940 Act. In addition, the credit agreement may be subject to early termination under certain conditions
and may contain other provisions that could limit the Fund’s ability to utilize borrowing under the agreement. Interest expense related to the loan for the six months ended October 31, 2019 was $371,548. For the six months ended
October 31, 2019, the Fund had an average daily loan balance outstanding of $25,335,326 and the weighted average interest rate was 2.92%. At October 31, 2019, the Fund had $32,300,000 of borrowings outstanding.

7. Distributions subsequent to October 31, 2019

The following distribution has been declared by the Fund’s Board of Directors and is payable subsequent to the period end of this report:

Record Date Payable Date Amount
12/20/2019 12/31/2019 $15.3300

8. Deferred capital losses

As of April 30, 2019, the Fund had deferred capital losses of $71,598,651, which have no expiration date, that will be available to offset future taxable capital
gains.

9. Subsequent event

The Fund
announced on November 15, 2019 that the Fund’s Board of Directors had approved a tender offer to purchase for cash up to 2.5% of the Fund’s outstanding shares of common stock, subject to the right to purchase up to an additional 2% of
the Fund’s outstanding shares without amending or extending the offer. The tender offer will be conducted at a price equal to the Fund’s net asset value per share of common stock on the day on which the tender offer expires. The Fund
commenced its tender offer on December 5, 2019 and the expiration of the tender offer is currently expected to be January 6, 2020.

Western Asset Middle Market Income Fund Inc. 2019 Semi-Annual Report 33

Dividend reinvestment plan (unaudited)

Unless you elect to receive distributions in cash (i.e., opt-out), all dividends, including any capital gain dividends and return
of capital distributions, on your Common Stock will be automatically reinvested in additional shares of Common Stock at the net asset value determined on the reinvestment date. You may elect not to participate in the Fund’s Dividend
Reinvestment Plan (the “Plan”) by contacting the Computershare Inc. (“the Plan Agent”). If you do not participate, you will receive all cash distributions paid by check mailed directly to you by Computershare Inc., as dividend
paying agent.

Common Stock in your account will be held by the Plan Agent in non-certificated form. Any proxy you receive
will include all shares of Common Stock you have received under the Plan.

You may withdraw from the Plan (i.e., opt-out) por
notifying the Plan Agent in writing at 462 South 4th Street, Suite 1600, Louisville, KY 40202 or by calling the Plan Agent at
1-888-888-0151. Such withdrawal will be effective immediately if notice is received by the Plan Agent more than three business
days prior to any dividend or distribution payment date for that dividend to be paid out in cash. If the notice is received less than three business days prior to any dividend or distribution payment date, then that dividend will be reinvested and
all subsequent dividends or distributions will be paid out in cash. The Plan may be terminated, amended or supplemented by the Fund upon notice in writing mailed to stockholders at least 30 days prior to the record date for the payment of any
dividend or distribution by the Fund for which the termination or amendment is to be effective.

Automatically reinvesting dividends and distributions does not mean
that you do not have to pay income taxes due upon receiving dividends and distributions. Investors will be subject to income tax on amounts reinvested under the Plan.

The Fund reserves the right to amend or terminate the Plan if, in the judgment of the Board of Directors, the change is warranted. The Plan Agent’s service fee for
handling distributions will be paid by the Fund. For participants holding shares directly with the Plan Agent, the Plan Agent will charge each participant a fee of $15.00 plus commissions upon any sale of shares accepted for tender by the Fund.
Additional information about the Plan and your account may be obtained from the Plan Agent at Computershare Inc., 462 South 4th Street, Suite 1600, Louisville, KY 40202 or by telephone
at 1-888-888-0151.

34 Western Asset Middle Market Income Fund Inc.

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Western Asset

Middle Market Income Fund Inc.

Directores

Robert D. Agdern

Carol L. Colman

Daniel P. Cronin

Paolo M. Cucchi

William R. Hutchinson

Eileen A. Kamerick

Nisha Kumar

Jane Trust

Chairman

Officers

Jane Trust

President

and Chief Executive Officer

Christopher Berarducci

Treasurer and Principal Financial Officer* *

Todd F. Kuehl

Chief Compliance Officer

Jenna Bailey

Identity Theft Prevention Officer

Robert I. Frenkel

Secretary and Chief Legal Officer

Thomas C. Mandia

Assistant Secretary

Jeanne M. Kelly

Senior Vice President

* *

Effective September 27, 2019, Mr.Berarducci became Treasurer and Principal Financial Officer.

Western Asset Middle

Market Income Fund Inc.

620 Eighth Avenue

49th Floor

New York,NY 10018

Investment manager

Legg Mason Partners Fund
Advisor, LLC

Subadvisers

Western Asset
Management Company, LLC

Western Asset Management Company Limited

Western Asset
Management Company Ltd

Western Asset Management Company Pte. Ltd.

Custodian

The Bank of New York Mellon

Transfer agent

Computershare Inc.

462 South 4th
Street, Suite 1600

Louisville, KY 40202

Independent
registered public accounting firm

PricewaterhouseCoopers LLP

Baltimore, MD

Legal counsel

Simpson Thacher &Bartlett LLP

425 Lexington Avenue

New York, NY 10017


Legg Mason Funds Privacy and Security Notice

Your Privacy and the Security of Your Personal Information is Very
Important to the Legg Mason Funds

This Privacy and Security Notice (the “Privacy Notice”) addresses the Legg Mason Funds’ privacy and
data protection practices with respect to nonpublic personal information the Funds receive. The Legg Mason Funds include any funds sold by the Funds’ distributor, Legg Mason Investor Services, LLC, as well as Legg Mason-sponsored closed-end funds. The provisions of this Privacy Notice apply to your information both while you are a shareholder and after you are no longer invested with the Funds.

The Type of Nonpublic Personal Information the Funds Collect About You

The Funds collect and maintain nonpublic personal information about you in connection with your
shareholder account. Such information may include, but is not limited to:

Personal information included on applications or other forms;

Account balances, transactions, and mutual fund holdings and positions;

Bank account information, legal documents, and identity verification documentation;

Online account access user IDs, passwords, security challenge question responses; y

Information received from consumer reporting agencies regarding credit history and creditworthiness (such as the amount of
an individual’s total debt, payment history, etc.).

How the Funds Use Nonpublic Personal Information About You

The Funds do not sell or share your nonpublic personal information with third parties or with affiliates for their marketing purposes, or with other
financial institutions or affiliates for joint marketing purposes, unless you have authorized the Funds to do so. The Funds do not disclose any nonpublic personal information about you except as may be required to perform transactions or services
you have authorized or as permitted or required by law. The Funds may disclose information about you to:

Employees, agents, and affiliates on a “need to know” basis to enable the Funds to conduct ordinary business or
to comply with obligations to government regulators;

Service providers, including the Funds’ affiliates, who assist the Funds as part of the ordinary course of business
(such as printing, mailing services, or processing or servicing your account with us) or otherwise perform services on the Funds’ behalf, including companies that may perform statistical analysis, market research and marketing services solely
for the Funds;

Permit access to transfer, whether in the United States or countries outside of the United States to such Funds’
employees, agents and affiliates and service providers as required to enable the Funds to conduct ordinary business, or to comply with obligations to government regulators;

The Funds’ representatives such as legal counsel, accountants and auditors to enable the Funds to conduct ordinary
business, or to comply with obligations to government regulators;

Fiduciaries or representatives acting on your behalf, such as an IRA custodian or trustee of a grantor trust.

NOT PART OF THE SEMI-ANNUAL 
REPORT

Legg Mason Funds Privacy and Security Notice (cont’d)

Except as otherwise permitted by applicable law, companies acting on the Funds’ behalf,
including those outside the United States, are contractually obligated to keep nonpublic personal information the Funds provide to them confidential and to use the information the Funds share only to provide the services the Funds ask them to
perform.

The Funds may disclose nonpublic personal information about you when necessary to enforce their rights or protect against fraud, or as permitted or
required by applicable law, such as in connection with a law enforcement or regulatory request, subpoena, or similar legal process. In the event of a corporate action or in the event a Fund service provider changes, the Funds may be required to
disclose your nonpublic personal information to third parties. While it is the Funds’ practice to obtain protections for disclosed information in these types of transactions, the Funds cannot guarantee their privacy policy will remain
unchanged.

Keeping You Informed of the Funds’ Privacy and Security Practices

The Funds will notify you annually of their privacy policy as required by federal law. While the Funds reserve the right to modify this policy at any time they will
notify you promptly if this privacy policy changes.

The Funds’ Security Practices

The Funds maintain appropriate physical, electronic and procedural safeguards designed to guard your nonpublic personal information. The Funds’ internal data
security policies restrict access to your nonpublic personal information to authorized employees, who may use your nonpublic personal information for Fund business purposes only.

Although the Funds strive to protect your nonpublic personal information, they cannot ensure or warrant the security of any information you provide or transmit to them,
and you do so at your own risk. In the event of a breach of the confidentiality or security of your nonpublic personal information, the Funds will attempt to notify you as necessary so you can take appropriate protective steps. If you have consented
to the Funds using electronic communications or electronic delivery of statements, they may notify you under such circumstances using the most current email address you have on record with them. In order for the Funds to provide effective service to
you, keeping your account information accurate is very important. If you believe that your account information is incomplete, not accurate or not current, if you have questions about the Funds’ privacy practices, or our use of your nonpublic
personal information, write the Funds using the contact information on your account statements, email the Funds by clicking on the Contact Us section of the Funds’ website at www.leggmason.com, or contact the Funds at 1-888-777-0102.

Revised April 2018

NOT PART OF THE SEMI-ANNUAL 
REPORT

Western Asset Middle Market Income Fund Inc.

Western Asset Middle Market Income Fund Inc.

620 Eighth Avenue

49th Floor

New York, NY 10018

Notice is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940, as amended, that from time to time the Fund may purchase shares of its
stock.

The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (“SEC”) for the first and third quarters of
each fiscal year as an exhibit to its reports on Form N-PORT. The Fund’s Forms N-PORT are available on the SEC’s website at www.sec.gov. To obtain information
on Forms N-PORT shareholders can call the Fund at 1-888-777-0102.

Information on how the Fund voted proxies relating to portfolio securities during the prior 12-month period ended June 30th of
each year and a description of the policies and procedures that the Fund uses to determine how to vote proxies related to portfolio transactions are available (1) without charge, upon request, by calling 1-888-777-0102, (2) at www.lmcef.com and (3) on the SEC’s website at www.sec.gov.

This report is transmitted to the shareholders of Western Asset Middle Market Income Fund Inc. for their information. This is not a prospectus, circular or representation
intended for use in the purchase of shares of the Fund or any securities mentioned in this report.

Computershare Inc.

462 South 4th Street, Suite 1600

Louisville,KY 40202

WASX107256 12/19 SR19-3749


Not applicable.

ITEM 3.

AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable.

ITEM 4.

PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable.

ITEM 5.

AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable.

ITEM 6.

SCHEDULE OF INVESTMENTS.

Included herein under Item 1.

ITEM 7.

DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8.

INVESTMENT PROFESSIONALS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9.

PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT
COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 10.

SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

Not applicable.

ITEM 11.

CONTROLS AND PROCEDURES.

(a)

The registrant’s principal executive officer and principal financial officer 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 date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.

(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 second fiscal quarter of the period covered by this report that have materially affected, or are likely to materially affect the registrant’s internal
control over financial reporting.


ITEM 12.

DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT
INVESTMENT COMPANIES.

Not applicable.

(a) (1) Not applicable.

Exhibit 99.CODE ETH

(a) (2) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.CERT

(b)
Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.906CERT


SIGNATURES

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, there unto duly authorized.

Western Asset Middle Market Income Fund Inc.
By:

/s/ Jane Trust

Jane Trust
Chief Executive Officer

Date: December 30, 2019

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/ Jane Trust

Jane Trust
Chief Executive Officer

Date: December 30, 2019

By:

/s/ Christopher Berarducci

Christopher Berarducci
Principal Financial Officer

Date: December 30, 2019

CERTIFICATIONS PURSUANT TO SECTION 302

EX-99.CERT

CERTIFICATIONS

I, Jane Trust, certify that:

1)

I have reviewed this report on Form N-CSR of Western Asset Middle
Market Income Fund Inc.;

2)

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)

Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4)

The registrant’s other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule
30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

b)

Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; y

re)

Disclosed in this report any change in the registrant’s internal control over financial reporting that
occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; y

5)

The registrant’s other certifying officers and I have disclosed to the registrant’s auditors and the
audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)

All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; y

b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant’s internal control over financial reporting.

Date: December 30, 2019

/s/ Jane Trust

Jane Trust

Chief Executive
Officer


CERTIFICATIONS

I, Christopher Berarducci, certify that:

1)

I have reviewed this report on Form N-CSR of Western Asset Middle
Market Income Fund Inc.;

2)

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3)

Based on my knowledge, the financial information included in this report, and the financial statements on which
the financial information is based, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the
registrant as of, and for, the periods presented in this report;

4)

The registrant’s other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule
30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

b)

Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; y

re)

Disclosed in this report any change in the registrant’s internal control over financial reporting that
occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; y

5)

The registrant’s other certifying officers and I have disclosed to the registrant’s auditors and the
audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)

All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; y

b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant’s internal control over financial reporting.

Date: December 30, 2019

/s/ Christopher Berarducci

Christopher Berarducci

Principal Financial
Officer

CERTIFICATIONS PURSUANT TO SECTION 906

EX-99.906CERT

CERTIFICATION

Jane Trust, Chief
Executive Officer, and Christopher Berarducci, Principal Financial Officer of Western Asset Middle Market Income Fund Inc. (the “Registrant”), each certify to the best of their knowledge that:

1. The Registrant’s periodic report on Form N-CSR for the period ended October 31, 2019 (the
“Form N-CSR”) fully complies with the requirements of section 15(d) of the Securities Exchange Act of 1934, as amended; y

2. The information contained in the Form N-CSR fairly presents, in all material respects, the
financial condition and results of operations of the Registrant.

Chief Executive Officer

Western Asset
Middle Market Income Fund Inc.

Principal Financial Officer

occidental
Asset Middle Market Income Fund Inc.

/s/ Jane Trust

/s/ Christopher Berarducci

Jane Trust Christopher Berarducci
Date: December 30, 2019 Date: December 30, 2019

This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. § 1350 and
is not being filed as part of the Form N-CSR with the Commission.

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