Brookfield Residential Properties Inc., a wholly owned subsidiary of Brookfield Asset Management, has been downgraded to B by S&P:
- Calgary, Canada-based Brookfield Residential Properties Inc.’s profitability has suffered from diminished demand due to the coronavirus pandemic, which accelerated a downward trend that began in 2019.
- We are lowering our issuer credit rating on Brookfield Residential Properties Inc. (BRPI) to ‘B’ from ‘B+’ to reflect its higher leverage.
- At the same time, we are lowering our issue-level rating on the company’s senior unsecured notes to ‘B+’ from ‘BB-‘. Our ‘2’ recovery rating remains unchanged.
- The negative outlook reflects our expectation that BRPI’s liquidity may become constrained if it is unable to extend or renegotiate its $675 million revolving credit facility before its March 2021 maturity.
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
| Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
| Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.8274 % | 1,661.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.8274 % | 3,048.6 |
| Floater | 5.03 % | 5.06 % | 64,463 | 15.38 | 3 | 0.8274 % | 1,756.9 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2215 % | 3,487.3 |
| SplitShare | 4.82 % | 4.86 % | 52,146 | 3.75 | 7 | 0.2215 % | 4,164.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2215 % | 3,249.4 |
| Perpetual-Premium | 5.19 % | 4.89 % | 74,355 | 4.07 | 1 | -0.0790 % | 3,075.9 |
| Perpetual-Discount | 5.54 % | 5.68 % | 77,253 | 14.36 | 35 | 0.0418 % | 3,298.6 |
| FixedReset Disc | 5.69 % | 4.50 % | 148,275 | 15.91 | 75 | 0.0498 % | 1,988.6 |
| Deemed-Retractible | 5.28 % | 5.37 % | 94,141 | 14.47 | 27 | 0.0590 % | 3,253.3 |
| FloatingReset | 2.37 % | 2.54 % | 34,644 | 1.49 | 4 | -0.1310 % | 1,761.0 |
| FixedReset Prem | 5.45 % | 4.28 % | 341,501 | 0.96 | 3 | 0.0925 % | 2,597.9 |
| FixedReset Bank Non | 1.95 % | 2.59 % | 100,850 | 1.48 | 2 | -0.0404 % | 2,827.2 |
| FixedReset Ins Non | 5.90 % | 4.66 % | 94,803 | 15.57 | 22 | 0.4775 % | 2,018.8 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| MFC.PR.Q | FixedReset Ins Non | -6.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 16.50 Evaluated at bid price : 16.50 Bid-YTW : 4.89 % |
| BMO.PR.F | FixedReset Disc | -3.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 22.36 Evaluated at bid price : 23.00 Bid-YTW : 4.50 % |
| TRP.PR.C | FixedReset Disc | -2.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 8.75 Evaluated at bid price : 8.75 Bid-YTW : 5.43 % |
| W.PR.M | FixedReset Disc | -2.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 23.86 Evaluated at bid price : 24.30 Bid-YTW : 5.37 % |
| EML.PR.A | FixedReset Ins Non | -2.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 23.51 Evaluated at bid price : 24.15 Bid-YTW : 5.55 % |
| TRP.PR.E | FixedReset Disc | -2.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 13.03 Evaluated at bid price : 13.03 Bid-YTW : 5.71 % |
| BAM.PR.R | FixedReset Disc | -2.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 12.03 Evaluated at bid price : 12.03 Bid-YTW : 5.59 % |
| BIP.PR.E | FixedReset Disc | -1.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.18 % |
| BAM.PF.J | FixedReset Disc | -1.69 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 22.70 Evaluated at bid price : 23.30 Bid-YTW : 5.12 % |
| TRP.PR.A | FixedReset Disc | -1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 11.71 Evaluated at bid price : 11.71 Bid-YTW : 5.60 % |
| IAF.PR.I | FixedReset Ins Non | -1.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 4.39 % |
| BIP.PR.B | FixedReset Disc | -1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 23.45 Evaluated at bid price : 24.25 Bid-YTW : 5.70 % |
| BAM.PF.A | FixedReset Disc | -1.38 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 16.47 Evaluated at bid price : 16.47 Bid-YTW : 5.50 % |
| MFC.PR.K | FixedReset Ins Non | -1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 15.80 Evaluated at bid price : 15.80 Bid-YTW : 4.61 % |
| BIP.PR.F | FixedReset Disc | -1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 6.11 % |
| TRP.PR.D | FixedReset Disc | -1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 13.40 Evaluated at bid price : 13.40 Bid-YTW : 5.59 % |
| TD.PF.E | FixedReset Disc | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 18.90 Evaluated at bid price : 18.90 Bid-YTW : 4.27 % |
| MFC.PR.F | FixedReset Ins Non | 1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 9.62 Evaluated at bid price : 9.62 Bid-YTW : 4.66 % |
| TD.PF.B | FixedReset Disc | 1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 16.80 Evaluated at bid price : 16.80 Bid-YTW : 4.23 % |
| PWF.PR.T | FixedReset Disc | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 16.21 Evaluated at bid price : 16.21 Bid-YTW : 4.64 % |
| CM.PR.T | FixedReset Disc | 1.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 22.17 Evaluated at bid price : 22.69 Bid-YTW : 4.34 % |
| BMO.PR.E | FixedReset Disc | 1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 19.86 Evaluated at bid price : 19.86 Bid-YTW : 4.28 % |
| CM.PR.P | FixedReset Disc | 1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 16.50 Evaluated at bid price : 16.50 Bid-YTW : 4.43 % |
| BMO.PR.Y | FixedReset Disc | 1.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 17.94 Evaluated at bid price : 17.94 Bid-YTW : 4.32 % |
| NA.PR.E | FixedReset Disc | 1.98 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 4.40 % |
| BAM.PF.G | FixedReset Disc | 3.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 14.78 Evaluated at bid price : 14.78 Bid-YTW : 5.48 % |
| BMO.PR.W | FixedReset Disc | 3.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 4.27 % |
| RY.PR.M | FixedReset Disc | 4.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 18.25 Evaluated at bid price : 18.25 Bid-YTW : 4.06 % |
| IFC.PR.A | FixedReset Ins Non | 5.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 12.35 Evaluated at bid price : 12.35 Bid-YTW : 4.61 % |
| CU.PR.C | FixedReset Disc | 5.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 15.80 Evaluated at bid price : 15.80 Bid-YTW : 4.51 % |
| MFC.PR.M | FixedReset Ins Non | 7.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 15.79 Evaluated at bid price : 15.79 Bid-YTW : 4.75 % |
| IAF.PR.G | FixedReset Ins Non | 12.92 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 18.01 Evaluated at bid price : 18.01 Bid-YTW : 4.56 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.H | FixedReset Disc | 108,647 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 23.78 Evaluated at bid price : 24.90 Bid-YTW : 4.45 % |
| BNS.PR.F | FloatingReset | 100,000 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.65 Bid-YTW : 2.45 % |
| NA.PR.A | FixedReset Disc | 83,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 24.59 Evaluated at bid price : 24.93 Bid-YTW : 5.03 % |
| BMO.PR.S | FixedReset Disc | 77,615 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 16.91 Evaluated at bid price : 16.91 Bid-YTW : 4.38 % |
| TD.PF.D | FixedReset Disc | 66,600 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 18.78 Evaluated at bid price : 18.78 Bid-YTW : 4.19 % |
| BMO.PR.B | FixedReset Disc | 63,615 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-27 Maturity Price : 23.71 Evaluated at bid price : 25.01 Bid-YTW : 4.42 % |
| There were 28 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| MFC.PR.J | FixedReset Ins Non | Quote: 17.30 – 19.17 Spot Rate : 1.8700 Average : 1.4732 YTW SCENARIO |
| BMO.PR.F | FixedReset Disc | Quote: 23.00 – 24.04 Spot Rate : 1.0400 Average : 0.6725 YTW SCENARIO |
| MFC.PR.Q | FixedReset Ins Non | Quote: 16.50 – 17.65 Spot Rate : 1.1500 Average : 0.7925 YTW SCENARIO |
| EML.PR.A | FixedReset Ins Non | Quote: 24.15 – 24.85 Spot Rate : 0.7000 Average : 0.4401 YTW SCENARIO |
| W.PR.M | FixedReset Disc | Quote: 24.30 – 25.00 Spot Rate : 0.7000 Average : 0.4627 YTW SCENARIO |
| IFC.PR.C | FixedReset Ins Non | Quote: 16.45 – 17.50 Spot Rate : 1.0500 Average : 0.8130 YTW SCENARIO |