DBRS Limited (DBRS Morningstar) assigned a rating of BBB with a Stable trend to Brookfield Finance Inc.'s (BFI or the Company) $400 million 4.625% Subordinated Notes due October 16, 2080 (the Hybrid Notes).
The Hybrid Notes are fully and unconditionally guaranteed, on a subordinated basis, by Brookfield Asset Management Inc. (rated A (low) with a Stable trend by DBRS Morningstar).
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.
All figures are in U.S. dollars unless otherwise noted
The principal methodologies are Rating Entities in the Real Estate Industry (June 4, 2020); Rating Companies in the Independent Power Producer Industry (May 19, 2020); Rating Companies in the Pipeline and Diversified Energy Industry (November 26, 2019); Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (September 16, 2020); DBRS Morningstar Criteria: Guarantees and Other Forms of Support (January 22, 2020); DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers (November 1, 2019); and DBRS Morningstar Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Rating Relationships (November 25, 2019), which can be found on dbrsmorningstar.com under Methodologies & Criteria.
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The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.
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Date Issued Debt Rated Action Rating Trend Issued
US = USA Issued, NRSRO
CA = Canada Issued, NRSRO
EU = EU Issued, NRSRO
E = EU endorsed
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19-Oct-20 Fixed-Rate Subordinated Notes New Rating BBB Stb CA
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