DBRS Morningstar Finalizes Provisional Rating of BBB (low) With a Stable Trend on Brookfield BRP Holdings (Canada) Inc.’s $350 Million Perpetual Subordinated Notes

DBRS Limited (DBRS Morningstar) finalized its provisional rating of BBB (low) with a Stable trend on Brookfield BRP Holdings (Canada) Inc.’s $350 million Perpetual Subordinated Notes (the Subordinated Notes).

The Subordinated Notes are fully and unconditionally guaranteed by Brookfield Renewable Partners L.P. (rated BBB (high) with a Stable trend by DBRS Morningstar).

ESG CONSIDERATIONS
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.

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; https://www.dbrsmorningstar.com/research/362015), Rating Companies in the Independent Power Producer Industry (May 19, 2020; https://www.dbrsmorningstar.com/research/361185), DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers (November 2, 2020; https://www.dbrsmorningstar.com/research/369165), DBRS Morningstar Criteria: Guarantees and Other Forms of Support (January 14, 2021; https://www.dbrsmorningstar.com/research/372344), which can be found dbrsmorningstar.com under Methodologies & Criteria. Other applicable methodologies include the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings (February 3, 2021; https://www.dbrsmorningstar.com/research/373262).

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.

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 [email protected].

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