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Fitch downgrades Braskem to C, S&P to D after the company files for Precautionary Injunctive Relief
BAKBraskem SA
Fitch Ratings and S&P Global Ratings have revised Braskem S.A.'s global corporate credit ratings to C and D, respectively, following the company's filing of Precautionary Injunctive Relief. Braskem reiterates that the legal proceeding is strictly financial in scope and does not affect its obligations to suppliers, customers, and other stakeholders. Braskem S.A. is a petrochemical company that produces various types of plastic and chemical products.