S&P revises Braskem to negative

Standard & Poor's said it affirmed its BBB- global scale and brAAA national scale ratings on Braskem SA and removed the ratings from CreditWatch with negative implications, where they were placed on Sept. 10.

The outlook is now negative.

S&P said the negative outlook is based on Braskem's challenges to sustain its current sound operating efficiency and strong liquidity under an environment of weaker economic activity in Brazil and potentially lower financial flexibility (given that the company's main shareholders are exposed to higher reputation risks), which could impact Braskem's business strengths.

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