Fitch Ratings has upgraded the 2022 Subscription Facility ratings for Brookfield Global Transition Fund-A, L.P. and its affiliated entities to 'AA+' from 'AA'. The facility, managed by Brookfield Asset Management, is secured by the uncalled capital commitments of 138 underlying limited partners.
The upgrade reflects the fund's strong diversification and Fitch's quality assumptions for its limited partner pool, which is predominantly based in North America. The facility's maturity was extended by 12 months, resulting in a remaining 13-month exposure period assumption.
Fitch maintained the facility's Qualitative Assessment score at '2', acknowledging the strength of the manager and the increasing percentage of funded commitments. This positive rating action underscores the robust credit profile and management quality associated with Brookfield's investment vehicles.
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