Chip stocks fall with Nvidia after data center rev disappointment
Braskem S.A. (B3:BRKM3, BRKM5, BRKM6; NYSE:BAK; LATIBEX:XBRK) announced that S&P Global Ratings has revised its global corporate credit rating to BB-, placing the company on CreditWatch Negative. The update was disclosed by Braskem on Friday in a statement based on a press release.
According to the company, S&P’s decision reflects ongoing uncertainties that continue to affect petrochemical product spreads and the resulting impact on Braskem’s liquidity.
Braskem stated that it is implementing resilience initiatives to address the prolonged downturn in the industry cycle and to strengthen the competitiveness of the Brazilian chemical industry.
The company is headquartered in Camacari, Bahia, Brazil, and operates in the industrial organic chemicals sector. The information is based on a statement filed with the Securities and Exchange Commission.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.