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S&P: Brascan unaffected
Standard & Poor's said the proposed amalgamation of Brascan Corp. (A-/Stable/A-2) and Brascan Financial Corp. (BBB+/Stable/A-2) would not affect the rating or outlook on Brascan.
The move, which is being undertaken to reduce administrative costs and simplify operations for Brascan, is subject to obtaining consent from Brascan Financial's preferred shareholders.
S&P said the amalgamation will modestly increase the amount of debt directly held by Brascan.
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