Moody's affirms Brookfield, gives notes Ba2

Moody's Investors Service said it assigned a Ba2/Aa3.br rating to Brookfield Incorporacoes SA's proposed R$300 million of senior unsecured debentures with maturities in four and five years.

The agency also said it affirmed the company's Ba2/Aa3.br corporate family ratings.

The outlook is stable.

The rating reflects its position among the top four largest homebuilders in Brazil with strong brand name, long track record and diversity in its products, Moody's said.

The ratings also consider the company's significant market share in its geographic markets, strong corporate governance standards, increasing geographic diversity, satisfactory leverage and adequate profitability, the agency said.

The ratings are constrained by the company's land bank geographic concentration in Sao Paulo and Rio de Janeiro and aggressive growth through the acquisitions, Moody's said.

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