DBRS Rates Brookfield Renewable Power New Issue at BBB (high)

DBRS has assigned a rating of BBB (high) with a Stable trend to the prospective issue by Brookfield Renewable Power Inc. (BRP) of $450 million of 5.14% Series 7 medium term notes due October 13, 2020 (the Notes).

The Notes are being offered pursuant to BRP’s Short Form Base Shelf Prospectus dated September 9, 2010, a Prospectus Supplement dated October 6, 2010, and a pricing supplement dated October 7, 2010. The Notes will rank equally with all other unsecured indebtedness of BRP. Proceeds from the offering will be used to refinance existing indebtedness, including BRP’s $400 million of 8.75% Series 5 notes, and for general corporate purposes. The offering is expected to close on October 13, 2010.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating North American Energy Utilities (Electric, Natural Gas, and Pipelines), which can be found on our website under Methodologies.