New York (S&P Global Ratings) May. 14, 2025--S&P Global Ratings today assigned its 'BBB-' issue-level rating to Brookfield Infrastructure Finance ULC (wholly owned subsidiary of Brookfield Infrastructure Partners L.P. [BIP]; BBB+/Stable/A-2) C$250 million fixed-to-fixed reset rate subordinated notes due Sept. 1, 2055. The company will use the net proceeds from the offering for general corporate purposes, including the repayment of debt outstanding. The notes are fully and unconditionally guaranteed by, on a subordinated basis, the company?s parent, BIP, among other guarantors. We classify the notes as having intermediate equity content because of their subordination (they will rank junior to all existing and future senior debt of the issuer and its guarantors), the length of time the instruments could be available
