BROOKFIELD, NEWS, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Brookfield Corporation
(NYSE: BN, TSX: BN) ("Brookfield") today announced that it has received an
upgrade to its senior unsecured debt rating from DBRS to "A" from A (low). The
upgrade reflects the continued growth in the earnings and cashflows of the
business, underpinned by a conservatively capitalized balance sheet. DBRS
pointed to the strength of Brookfield's premier global alternative asset
management business, the scaling of its Insurance Solutions franchise, and the
resilience and quality of the earnings and cashflows generated by its underlying
operations.
Nicholas Goodman, President of Brookfield Corporation, stated "We are pleased
with the credit rating upgrade, which reflects the strength of our franchise
through cycles-including the growing scale and diversity of our business, the
quality of our cashflows and our fortress balance sheet. The upgrade is further
recognition of our longstanding commitment to conservative financing principles
and our differentiated perpetual capital base of $140 billion."
Brookfield Corporation also received an upgrade from DBRS on its preferred
shares rating to Pfd-2 from Pfd-2 (low).
About Brookfield Corporation
Brookfield Corporation (NYSE: BN, TSX: BN) is focused on compounding capital
over the long term to earn attractive total returns for our shareholders. Today,
our capital is deployed across three businesses - Asset Management, Insurance
Solutions and our Operating Businesses, generating substantial and growing free
cash flows, all of which is underpinned by a conservatively capitalized balance
sheet.
For more information, please visit our website at www.bn.brookfield.com
(https://bn.brookfield.com/) or contact:
Communications & Media: Investor Relations:
Kerrie McHugh Hayes Linda Northwood
Tel: (212) 618-3469 Tel: (416) 359-8647
Email: kerrie.mchugh@brookfield.com Email: linda.northwood@brookfield.com
Forward Looking Statements
This news release contains "forward-looking information" within the meaning of
Canadian provincial securities laws and "forward-looking statements" within the
meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of
1934, "safe harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995 and in any applicable Canadian securities
regulations (collectively, "forward-looking statements"). Forward-looking
statements include statements that are predictive in nature, depend upon or
refer to future results, events or conditions, and include, but are not limited
to, statements which reflect management's current estimates, beliefs and
assumptions and which are in turn based on our experience and perception of
historical trends, current conditions and expected future developments, as well
as other factors management believes are appropriate in the circumstances. The
estimates, beliefs and assumptions of Brookfield are inherently subject to
significant business, economic, competitive and other uncertainties and
contingencies regarding future events and as such, are subject to change.
Forward-looking statements are typically identified by words such as "expect",
"anticipate", "believe", "foresee", "could", "estimate", "goal", "intend",
"plan", "seek", "strive", "will", "may" and "should" and similar expressions. In
particular, the forward-looking statements contained in this news release
include statements referring to the growth of Brookfield's business.
Although Brookfield believes that such forward-looking statements are based upon
reasonable estimates, beliefs and assumptions, certain factors, risks and
uncertainties, which are described from time to time in our documents filed with
the securities regulators in Canada and the United States, not presently known
to Brookfield, or that Brookfield currently believes are not material, could
cause actual results to differ materially from those contemplated or implied by
forward-looking statements.
Readers are urged to consider these risks, as well as other uncertainties,
factors and assumptions carefully in evaluating the forward-looking statements
and are cautioned not to place undue reliance on such forward-looking
statements, which are based only on information available to us as of the date
of this news release. Except as required by law, Brookfield undertakes no
obligation to publicly update or revise any forward-looking statements, whether
written or oral, that may be as a result of new information, future events or
otherwise.
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