S&P gives Braskem notes BBB-

S&P said it assigned its BBB- issue-level rating to Braskem Netherlands Finance BV's proposed senior unsecured notes. Braskem SA (BBB-/negative/--) will unconditionally guarantee the notes.

“We expect Braskem to use the proceeds for liability management and, to a lesser extent, for capital expenditure financing and general corporate purposes,” the agency said in a news release.

“Therefore, the proceeds won't significantly affect net leverage, given that the company continues to pay more expensive debt and will strengthen Braskem's capital structure by extending maturities.”

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