Fitch: Braskem view positive

Fitch Ratings said it affirmed Braskem SA's long-term foreign-currency issuer default rating at BB+, long-term local-currency issuer default rating at BB+, long-term national rating at AA(bra) and senior notes at BB+, Braskem International's senior notes due in 2015 at BB+, and Braskem Finance Ltd.'s senior notes at BB+.

The outlook was revised to positive from stable.

The outlook reflects expectation of ongoing improvements in Braskem's operating cash generation, which will result in leverage reduction while maintaining strong liquidity, sufficient to cover debt scheduled amortizations in the next two years, according to the agency.

In addition, the positive outlook reflects the fact that Braskem will prioritize the reduction of its net leverage opposing its track record of aggressive growth strategy and that the new green field projects will be financed through non-recourse project-finance debt, Fitch said.

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