Fitch returns Braskem to investment grade

Fitch returns Braskem to investment grade

Credit Ratings Fitch Ratings Upgrade Revision Bonds Debt Fixed Income Capital Markets Brazil

Fitch Ratings has returned Brazil's Braskem to investment grade status after upgrading the petrochemical producer's ratings by one notch to BBB-, according to a report on Tuesday. "The upgrade reflects the material improvement Braskem made to its capital structure by paying down $1.7 billion of debt with excess cash flow generated during the top of the petrochemical cycle," Fitch said in the report. Fitch also said it had revised the outlook on Braskem's ratings to stable from positive on the ex

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