DBRS Assigns Rating of A (low), Stable, to Brookfield Finance LLC’s Senior Unsecured Notes Issue

DBRS Limited (DBRS) has today assigned a rating of A (low) with a Stable trend to the USD 750 million Senior Unsecured Notes (the Notes) issued by Brookfield Finance LLC (BFL), guaranteed by Brookfield Asset Management Inc. (BAM or the Company). The Notes with a seven-year maturity were issued on March 10, 2017, under the base shelf prospectus dated February 10, 2017, which allows for offerings of up to USD 2.5 billion of debt securities. Net proceeds of the Notes will be used primarily for the repayment of outstanding short-term borrowing and general corporate purposes.

BFL is an indirect wholly owned subsidiary of BAM, which has no significant assets, liabilities, subsidiaries and ongoing operations of its own. The Notes are fully and unconditionally guaranteed by BAM and rank pari passu with all of the Company’s other unsecured and unsubordinated obligations. DBRS has reviewed the guarantee language in the Notes’ Indenture and notes that it is consistent with the requirements outlined in “DBRS Criteria: Guarantees and Other Forms of Support.”

Notes:
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 to the right under Related Research or by contacting us at info@dbrs.com.

The principal methodologies are Rating Entities in the Real Estate Industry, DBRS Criteria: Commercial Paper Liquidity Support for Non-Bank Issuers, Rating Companies in the Independent Power Producer Industry, Rating Container Terminal Operators, Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry, DBRS Criteria: Rating Corporate Holding Companies and Their Subsidiaries, Rating Companies in the Pipeline and Diversified Energy Industry, DBRS Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers, DBRS Criteria: Guarantees and Other Forms of Support and Rating Companies in the Railway Industry, which can be found dbrs.com under Methodologies.

The Senior Unsecured Notes are guaranteed by Brookfield Asset Management Inc.