DBRS Places Brookfield Power Inc. and Brookfield Power Corporation Under Review with Developing Implications

DBRS has today placed the ratings of Brookfield Power Inc. (BPI) and Brookfield Power Corporation (BPC) Under Review with Developing Implications. This rating action includes BPI’s BBB (high) Issuer Rating and R-1 (low) Commercial Paper and the BBB (high) Unsecured Debentures, Notes of BPC. These actions follow the announcement that BPI and BPC have amalgamated into one entity, Brookfield Renewable Power Inc. (BRPI). BRPI has stated that it has assumed all of BPI's and BPC’s existing obligations, including any outstanding public indebtedness.

While DBRS does not anticipate that the amalgamation will impact the credit quality of the public Debentures and Notes (formerly BPC’s obligations which were guaranteed by BPI, and now BRPI’s direct obligations), DBRS has placed all ratings Under Review with Developing Implications pending a full review of the amalgamation documentation and the impact of the amalgamation (if any) on BRPI’s financial position and credit metrics.