Fitch sees Brookfield notes at BBB

Fitch Ratings said it expects to rate Brookfield Finance Inc.’s subordinated notes BBB. Brookfield Finance is a wholly-owned debt-issuing subsidiary of Brookfield Asset Management, Inc.

The rating is two notches below Brookfield Finance’s issuer rating of A-, under Fitch’s corporate hybrids criteria. The expected rating includes two notches for loss severity, reflecting the notes’ subordination and heightened risk of non-performance relative to other obligations, the agency said.

Proceeds are expected to be used for general corporate purposes.

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