BROOKFIELD ANNOUNCES UPGRADE TO DEBT RATING
Brookfield Asset Management Inc. has received an upgrade on its senior unsecured debt rating from Moody's to A3 from Baa1, reflecting the strengthening and resiliency of the inflation-linked cash flows generated across Brookfield's three core pillars -- asset management, insurance solutions and its operating businesses. This rating will apply to Brookfield Corp., which will be the new name of Brookfield Asset Management after the completion of the public listing and distribution of a 25-per-cent interest in Brookfield's asset management business.
Nicholas Goodman, chief financial officer, stated: "We are pleased that the continued growth in our three core pillars, the stability and resiliency of the cash flows we generate, and our conservative capitalization is being recognized in the credit upgrade we received from Moody's. This upgrade further reinforces the key differentiators of our business."