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Bulletin: Brookfield Renewable Power Inc.'s C$945 Million Assets Sale Is Credit Neutral Jul 09
Standard & Poors, July 2009
Abstract
TORONTO (Standard & Poor's) July 7, 2009--Standard & Poor's Ratings Services today said that Brookfield Renewable Power Inc.'s (BRP; BBB/Negative/A-3) sale of most of its Canadian assets to Great Lakes Hydro Income Fund (GLHIF; stability rating: SR-2/Stable) will not affect the ratings or outlook on the company. The sale will be for approximately C$945 million, of which C$365 million will be received in cash, C$380 million in units of GLHIF, and C$200 million will be a note. Most of the assets will be transferred with a fixed-price 20-year power purchase agreement with BRP as the offtaker. The proceeds from the sale will enhance BRP's near-term liquidity but the company may deploy this toward other asset purchases in the future. We...
Companies mentioned in this report are: Brookfield Renewable Power Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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