Fitch assigns Braskem Idesa notes BB

Fitch Ratings said it assigned a BB rating on Braskem Idesa SAPI’s benchmark size senior secured notes due 2029. The agency also assigned the company long-term foreign and local currency issuer default ratings of BB.

“Braskem Idesa’s ratings reflect its strong competitive position within the global petrochemical sector underpinned by its access to competitive raw materials, which supports its high margins, large business scale and strong market share in the Mexican polyethylene (PE) market. Fitch’s ratings incorporate a successful refinancing of part of Braskem Idesa’s project finance debt, which should improve the company’s financial flexibility,” said Fitch in a press release.

The outlook is stable.

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