Brookfield leveraging roads to pay dividends under negative creditwatch

18 June 2020 - 12:00 am UTC

Restrictions imposed by monoline lender MBIA are forcing a Brookfield-related holding company to issue UF 326,000 (USD 11.4m) in additional notes to pay additional dividends, according to a Feller Rate rating release.

The decision to raise new debt on the holdco led Feller Rate to put Brookfield Americas Infrastructure Holdings Chile I on ‘negative watch’, but maintained its ‘A’ credit rating. The holding company owns two road projects in Chile: the San Cristobal Tunnel and the Vespucio Norte highway.

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