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Moody's upgrades Brookfield Asset Management, units

Moody's upgraded the ratings of Brookfield Asset Management Inc. and its financing subsidiaries to Baa1 from Baa2 following its acquisition of approximately 61.2% of the equity of Oaktree Capital Group LLC.

The outlook is stable.

The subsidiaries included Brookfield Finance Inc., Brookfield Finance LLC and Brookfield Japan Holdings Inc.

The upgrade reflects the benefits that the Oaktree acquisition is expected to have on the company's business profile, Moody's said. The benefits include its diversification into new alternative asset classes, increased scale of revenues and assets under management, and the marketing benefits of partnering with one of the leading fixed income managers in the world.