Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 9

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 3
Chunk 9
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 levels of operating and other expenses and contingent liabilities.

Our businesses rely on continued access to capital to fund new acquisitions and capital projects. While we aim to prudently manage our capital requirements and ensure access to capital is always available, it is possible we may overcommit ourselves or misjudge the requirement for capital or the availability of capital. Such a misjudgment could result in negative financial consequences or, in extreme cases, bankruptcy.

Changes in our credit ratings may have an adverse effect on our financial position and ability to raise capital.

We cannot assure you that any credit rating assigned to us or any of our operating subsidiaries or their debt securities will remain in effect for any given period of time or that any rating will not be lowered or withdrawn entirely by the relevant rating agency. A lowering or withdrawal of such ratings may have an adverse effect on our financial position and ability to raise capital.

Changes or developments in U. S. laws or policies, including changes in U. S. domestic economic policies and foreign trade policies and tariffs and the reaction of other countries thereto, may have a material adverse effect on our business and financial condition.

The President of the United States of America has imposed a 25% tariff on imports of steel and aluminum into the U. S., as well as tariffs on China, the auto sector and other tariffs, and may implement new tariffs in the future, including a 25% across the board tariff on Canada, Mexico and other nations. The eventuality, timing and rates of new tariffs, as well as the length of time

  16      Brookfield Business Partners  

that recently implemented tariffs remain in place, are difficult to predict at this time. There also are risks associated with retaliatory tariffs that other nations have implemented and may continue to implement against the U. S., and the increase of tariffs on both sides in an escalating trade war, all of which may strain international trade relations and impair global economic growth. The imposition of such tariffs or other similar trade restrictions may be inflationary, which could cause the cost of inputs to increase and interest rates to rise and create further uncertainty and volatility in the market, which may have a material adverse effect on our business and financial statements. In addition, changes or developments in U. S. laws and policies, such as laws relating to U. S. domestic economic policies, including the Inflation Reduction Act of 2022 (“ IRA”), as well as international trade, foreign affairs, manufacturing and development and investment in the territories and countries where we operate, can materially adversely affect our