Brookfield Office Properties Inc T.BPO.P.A

RE:brookfield purchase of san fran apts

[pierrelebel]

The credit rating problem is specific to Brookfield Office Properties (BPO) not Brookfield Corporation or other Brookfield companies.

A few months ago 5iResearch offered:

"BN does not have a legal obligation to the preferreds. That being said, a default on these shares would be very detrimental to the group's overall investor confidence, and we would assume the parent would support them, but only up to a point. If things got so bad that the parent company's solvency was in question, we are quite sure Brookfield would abandon them in order to protect the mother ship. But, two comments on that: First, things would have to get absolutely exceptionally bad to envision such a scenario. Two, Brookfield can be masters of financial restructuring. We are sure it could come up with some sort of equity swap or other arrangement to save the preferreds before it got to such dire measures."

My wife and I hold both BPO.PR.T and BPO.PR.A for the long term and do not intend to sell