Moody's cuts Brookfield Incorporacoes

Moody's America Latina said it downgraded the corporate family ratings assigned to Brookfield Incorporacoes SA to Ba3 from Ba2 on the global scale and to A3.br from Aa3.br on the Brazilian national scale.

At the same time, Moody's downgraded the ratings assigned to the company's fourth senior unsecured debentures issuance in the amount of R$300 million issued by Brookfield in August 2011 to Ba3/A3.br from Ba2/Aa3.br.

The outlook is stable.

Moody's said the downgrade in Brookfield's ratings to Ba3 reflects the significant deterioration in the company's credit metrics over the last 12 months and Moody's expectation that an improvement in leverage will only be gradual.

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