TSX:BPO.PR.A - Post by User
Comment by
Carenaon Dec 22, 2023 1:22pm
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Post# 35798052
RE:Brookfield Corporation Update on Initiatives for 2023
RE:Brookfield Corporation Update on Initiatives for 2023Hi there,
I was just reading this "Update" myself.
It is not a coincidence that this "Update" has come out the day after the BPY downgrade to Junk. I could be wrong, but issuing an "Update" at this time of year is unusual.
Also interesting that the BPY downgrade is quietly mentioned at the very end and after the BN upgrade discussion. Ultimately, BN is responsible for BPY. That is how I read that paragraph. I think we all knew that anyways.
I think we the investor base are supposed to read the "Update" to mean that the BPY downgrade to Junk is but one little thing in all the stuff going on at Brookfield. But I think this downgrade to Junk is a big deal. BPY was put on credit watch back in October and I bet there was quite the fight with S&P to keep it at investment grade.
Ultimately I think our BPO prefs are right in the cross hairs of the biggest Brookfield issue in years.
I have faith in Bruce Flatt and am staying long BPO.
Carena