DBRS Morningstar Assigns a Provisional Rating of BBB (low) to Brookfield Renewable Partners L.P.’s up to USD 200 Million Class A Preferred Limited Partnership Units (U.S.)

DBRS Limited (DBRS Morningstar) assigned a provisional rating of BBB (low) with a Stable trend to Brookfield Renewable Partners L.P.’s (BEP) up to USD 200 million Class A Preferred Limited Partnership Units (U.S.), Series 17 (the Series 17 Preferred Units).

The rating of the Series 17 Preferred Units is based on DBRS Morningstar’s long-term debt rating scale under “DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers” (DBRS Morningstar Preferred Share Criteria). Under the DBRS Morningstar Preferred Share Criteria, preferred shares issued by nonfinancial corporate issuers outside of Canada will be two notches below the Issuer Rating. On May 17, 2019, DBRS Morningstar confirmed BEP’s Issuer Rating at BBB (high) with a Stable trend.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal methodologies are Rating Companies in the Independent Power Producer Industry; DBRS Morningstar Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Rating Relationships; DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers; and DBRS Morningstar Criteria: Guarantees and Other Forms of Support, which can be found on dbrs.com under Methodologies & Criteria.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link under Related Documents or by contacting us at info@dbrs.com.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.

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