Fitch: Brookfield notes BBB

Fitch Ratings said it has assigned a BBB rating to Brookfield Asset Management Inc.'s C$500 million of 4.82% notes due Jan. 28, 2026.

The outlook is stable.

Proceeds will be used for general corporate purposes, the agency said.

According to Fitch, the company has diversified and stable revenue sources from a global investment portfolio and also has underlying commercial real estate and power-generation assets that are individually cash-flow producing, enhancing liquidity.

On the other hand, negatives include the structural subordination of Brookfield's cash flows to debt at the project level or subsidiary debt and a high degree of leverage at the operating entities, the agency said.

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