DBRS Morningstar Finalizes Provisional Rating of BBB with a Stable Trend on Brookfield Finance I (UK) PLC’s Perpetual Subordinated Notes

DBRS Limited (DBRS Morningstar) finalized its provisional rating of BBB with a Stable trend on Brookfield Finance I (UK) PLC’s $230 million fixed-rate Perpetual Subordinated Notes (the Sub Notes). The total amount of $230 million includes the overallotment of $30 million. The Sub 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.

Notes:
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 (October 27, 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 2, 2020); and DBRS Morningstar Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Rating Relationships (November 2, 2020), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link under Related Documents or by contacting us at info@dbrsmorningstar.com.

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.

Generally, the conditions that lead to the assignment of a Negative or Positive trend are resolved within a 12-month period. DBRS Morningstar trends and ratings are under regular surveillance.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

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