S&P grades Braskem Idesa

S&P grades Braskem Idesa

Bonds Debt Capital Markets Fixed Income Mexico

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

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