Fitch rates Braskem hybrid BB-

Fitch Ratings said it assigned a BB- rating to the benchmark sized subordinated notes of Braskem Netherlands Finance BV. The notes will be guaranteed by Braskem SA.

Fitch rates Braskem BB+, but rates the hybrids two notches below for their deep subordination and a higher risk of loss, the agency said.

Proceeds will be used mainly to refinance current indebtedness and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.