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Braskem S.A. (B3:BRKM3, BRKM5, BRKM6; NYSE:BAK; LATIBEX:XBRK) announced Friday that S&P Global Ratings has revised the company’s global corporate credit rating to B+, assigning a negative outlook. The information was disclosed in a press release statement based on a filing with the Securities and Exchange Commission.
The company stated that it continues to focus on implementing resilience initiatives to address the effects of the prolonged downturn in the petrochemical industry cycle and to enhance the competitiveness of the Brazilian chemical sector.
Braskem’s announcement did not provide further details regarding the reasons for the rating change or any financial figures. The company is headquartered in Camacari, Bahia, Brazil, and operates in the industrial organic chemicals sector.
This update is based on a press release statement filed with the SEC.
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