Summary: Brookfield Asset Management Inc. Jul 10

Standard & Poors, July 2010

Abstract
The ratings on Brookfield Asset Management Inc. reflect Standard & Poor's Ratings Services' expectation of the company's continued adherence to its clearly stated strategy based on three main principles: owning assets that generate steady cash flow; managing partially owned funds; and maintaining financial separation and flexibility among the holding company, subsidiaries, funds, and assets. This integrated strategy mainly involves acquiring and operating companies and assets that Brookfield deems to be of high quality, that generate steady cash flow, and that have the potential to appreciate in value in the long term. The company could eventually inject them into listed companies or Brookfield's managed funds to attract external capital. The company's strategy, as we understand it, also emphasizes the use of...

Companies mentioned in this report are:
- Brookfield Asset Management Inc.
- Brookfield Renewable Power Inc.
- General Growth Properties, Inc. (Unsolicited Ratings)
- Brookfield Renewable Power Fund
- Brookfield Office Properties Inc.

Action: Review

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Brookfield Asset Management Inc.
- Brookfield Renewable Power Inc.
- General Growth Properties, Inc. (Unsolicited Ratings)
- Brookfield Renewable Power Fund
- Brookfield Office Properties Inc.

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