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Braskem returns to investment grade by credit risk agency
Braskem returned to investment grade, according to the credit risk classification agency S&P Global Ratings (S&P)
Braskem returned to investment grade, according to the credit risk classification agency S&P Global Ratings (S&P). S&P raised the company’s rating to BBB-, with a stable outlook. The agency pointed out that the upgrade to investment grade reflects the considerable improvement in profitability and cash generation indicators, the company’s commitment to leverage and the expectation that Braskem will continue to benefit from high petrochemical spreads in the coming quarters.
“This rise in classification is the result of the continuous efforts of all Braskem employees. We reiterate our firm commitment to financial health, which is fundamental for us to serve well our customers, partners, and shareholders,” said Pedro Freitas, Vice-President of Finance, Supplies and Institutional Relations at Braskem.
In recent quarters, the company has recorded strong operating results, with increased net sales revenue and net income. Braskem has also consistently reduced gross debt and corporate leverage, which is at its lowest level in history. In addition, the company maintained a strong liquidity position and most of the debt has a long-term maturity (50% from 2030 on).