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Review of Brookfield Renewable Partners

JUN 13, 2024 - Brookfield Renewable Partners L.P (BEP.UN) is a globally diversified, multi-technology, owner and operator of clean energy and sustainable solutions assets. BEP.UN is one of the largest pure play renewables companies in the world. The whole renewables and utilities industry has been suppressed in recent years due to the high and rising rate environment. Looking forward, renewables not only have positive economic catalysts, but also secular tailwinds on the back of electrification and digitization. The outlook is starting to look more positive going forward for BEP.UN, especially if a rating cutting cycle begins in 2024. We are maintaining our rating of a B+ as we would prefer to confirm the stock has bottomed, and as the high debt may still be a near term headwind.

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