Intel stock spikes after report of possible US government stake
Braskem S.A. (B3:BRKM3, BRKM5, BRKM6; NYSE:BAK; LATIBEX:XBRK) announced Wednesday that Fitch Ratings has revised the company’s global corporate credit rating to BB-, assigning a Negative Watch. The update was communicated in a press release statement and disclosed in a filing with the U.S. Securities and Exchange Commission.
According to Braskem, Fitch’s decision was primarily based on challenges affecting the global petrochemical industry and the resulting impact on the company’s liquidity position. The agency’s Negative Watch indicates that further rating actions could be considered in the near term, depending on industry developments and company performance.
Braskem stated that it is continuing to implement initiatives aimed at maintaining its financial health and mitigating the effects of the prolonged downturn in the industry cycle. The company also referenced efforts to strengthen the competitiveness of the Brazilian chemical sector.
This information is based on a press release statement included in Braskem’s SEC filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.