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Brookfield Power Inc. Dec 06
Standard & Poors, Dec 2006
Abstract
Highly competitive, long-life, and low-risk generation assets Strong relationship with corporate parent Brookfield Asset Management (A-/Stable/--) Diversified generation portfolio High proportion of contracted and regulated cash flows Weak credit-protection metrics Wholesale power market exposure Exposure to hydrology risk The ratings on Brookfield Power Inc. reflect the company's diversified mix of predominantly hydroelectric generation assets; the excellent competitive position of these assets; and the financial flexibility provided by its increasing strategic relationship with its corporate parent, Brookfield Asset Management Inc. (A-/Stable/--). These strengths are offset by Brookfield Power's exposure to hydrological risk, partial exposure to wholesale power market risk, and weak credit-protection ratios on a consolidated basis. Brookfield Power owns 3,569 MW of total generation capacity. The company is owned by...
Companies mentioned in this report are: Brookfield Renewable Power Inc.,Brookfield Asset Management Inc.,Transelec S.A.,BRP Finance ULC
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.
Research Type: Full Analysis
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