DBRS Morningstar Assigns Rating of BBB (low) with a Stable Trend to Brookfield BRP Holdings (Canada) Inc.’s $260 Million Perpetual Subordinated Notes

DBRS Limited (DBRS Morningstar) assigned a rating of BBB (low) with a Stable trend to Brookfield BRP Holdings (Canada) Inc.’s $260 million Perpetual Subordinated Notes (the Subordinated Notes). The rating being assigned is based upon the rating on an already-outstanding series of the above-mentioned debt instruments.

The Subordinated Notes are guaranteed on a subordinated basis by Brookfield Renewable Partners L.P. (rated BBB (high) with a Stable trend by DBRS Morningstar).

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 Companies in the Independent Power Producer Industry (May 10, 2021; https://www.dbrsmorningstar.com/research/378166), DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers (October 21, 2021; https://www.dbrsmorningstar.com/research/386356), and DBRS Morningstar Criteria: Guarantees and Other Forms of Support (May 31, 2021; https://www.dbrsmorningstar.com/research/379424), 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).

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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