December 6, 2019
S&P Global said it has assigned a BB- rating to Mexico's Braskem Idesa, saying the petrochemical has high levels of debt.
Braskem Idesa, a joint venture between Braskem from Brazil and Idesa from Mexico, makes just one product, polyethylene, which limits its size, and depends entirely on ethane as its only raw material, S&P said in a report.
The company was founded in 2016, but it has become the largest polyethylene producer in Mexico with EBITDA margins that stand above its peers, due t
Rating agency gives the Mexican petrochemical firm a BB-, citing limited size and high debt