Fitch cuts Braskem to BB-; company announces resilience measures
Rhea-AI Filing Summary
Fitch Ratings revised Braskem's global corporate credit rating to BB- with a Negative Outlook, citing challenges in the global petrochemical industry that have affected the Company's liquidity. The Company states it is implementing resilience initiatives aimed at mitigating the prolonged industry downturn and strengthening competitiveness in the Brazilian chemical sector. The notice also references potential impacts from a geological event in Alagoas and related legal procedures, noting these matters could affect operations, financial condition and results. Investor contact details are provided for additional information.
Positive
- Company has announced implementation of resilience initiatives to mitigate liquidity effects from the industry downturn
- Public disclosure of the rating action and management response provides transparency for investors and creditors
Negative
- Fitch downgraded Braskem to BB- with a Negative Outlook, indicating increased credit risk and potential higher financing costs
- Company cites liquidity pressure driven by a prolonged downturn in the global petrochemical industry, which could constrain operations
- Filing references a geological event in Alagoas and related legal procedures that may further affect the Company's business and results
Insights
TL;DR: A downgrade to BB- with Negative Outlook signals materially weaker credit profile and elevated liquidity risk for Braskem.
Fitch's move to BB- reflects sector-wide headwinds translating into company-specific liquidity pressure. A BB- rating typically places the issuer in non-investment grade territory, which can increase funding costs and constrain access to capital markets. The Company's stated resilience initiatives are necessary but unspecified; their effectiveness will determine near-term refinancing flexibility and covenant pressure. Investors and creditors should monitor cash flow generation, covenant metrics and any near-term borrowing or refinancing actions.
TL;DR: The downgrade is a negative development, but management's focus on resilience and competitiveness is a constructive response.
Braskem acknowledges liquidity strain from the petrochemical downturn and signals operational and financial actions to respond. While disclosure of initiatives is positive for transparency, the filing lacks details on scale, timing and expected impacts of those measures. The reference to a geological event and legal procedures adds execution and contingent liability uncertainty. Material impact will depend on cash retention measures, cost reductions, asset sales or successful refinancing.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13A-16
OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of August, 2025
(Commission File No. 1-14862 )
BRASKEM S.A.
(Exact Name as Specified in its Charter)
N/A
(Translation of registrant's name into English)
Rua Eteno, 1561, Polo Petroquimico de Camacari
Camacari, Bahia - CEP 42810-000 Brazil
(Address of principal executive offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F ______
Indicate by check mark if the registrant is
submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1). _____
Indicate by check mark if the registrant is
submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7). _____
Indicate by check mark whether the
registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ______ No ___X___
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____.
NOTICE TO THE MARKET
São Paulo, August 13, 2025 - BRASKEM S.A. ("Braskem" or "Company") (Ticker B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) hereby informs its shareholders and the market in general that the credit rating agency Fitch Ratings (“Fitch”) has revised the Company’s global corporate credit rating to BB-, with a Negative Outlook, primarily due to the challenges faced by the global petrochemical industry and its impact on the Company’s liquidity.
The Company reinforces its commitment to its financial health through the implementation of resilience initiatives to mitigate the effects of the prolonged downturn in the industry cycle, and to strengthen the competitiveness of the Brazilian chemical industry.
Additional information can be obtained from the Investor Relations Department by phone at +55 (11) 3576-9531 or by e-mail braskem-ri@braskem.com.br.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: August 13, 2025
| BRASKEM S.A. | |||
| By: | /s/ Felipe Montoro Jens | ||
| Name: | Felipe Montoro Jens | ||
| Title: | Chief Financial Officer | ||
FORWARD-LOOKING STATEMENTS
This Notice to the Market may contain forward-looking statements. These statements are not historical facts, but rather are based on the current view and estimates of the Company's management regarding future economic and other circumstances, industry conditions, financial performance and results, including any potential or projected impact regarding the geological event in Alagoas and related legal procedures on the Company's business, financial condition and operating results. The words “project,” “believe,” “estimate,” “expect,” “plan”, “objective” and other similar expressions, when referring to the Company, are used to identify forward-looking statements. Statements related to the possible outcome of legal and administrative proceedings, implementation of operational and financing strategies and investment plans, guidance on future operations, the objective of expanding its efforts to achieve the sustainable macro objectives disclosed by the Company, as well as factors or trends that affect the financial condition, liquidity or operating results of the Company are examples of forward-looking statements. Such statements reflect the current views of the Company's management and are subject to various risks and uncertainties, many of which are beyond the Company’s control. There is no guarantee that the events, trends or expected results will actually occur. The statements are based on various assumptions and factors, including, but not limited to, general economic and market conditions, industry conditions and operating factors, availability, development and financial access to new technologies. Any change in these assumptions or factors, including the projected impact from the joint venture and its development of technologies, from the geological event in Alagoas and related legal procedures and the unprecedented impact on businesses, employees, service providers, shareholders, investors and other stakeholders of the Company could cause effective results to differ significantly from current expectations. For a comprehensive description of the risks and other factors that could impact any forward-looking statements in this document, especially the factors discussed in the sections, see the reports filed with the Brazilian Securities and Exchange Commission (CVM). This Notice to the Market does not constitute any offer of securities for sale in Brazil. No securities may be offered or sold in Brazil without being registered or exempted from registration, and any public offer of securities carried out in Brazil must be made through a prospectus, which would be made available by Braskem and contain detailed information on Braskem and its management, as well as its financial statements.
FAQ
What rating action did Fitch take on Braskem (BAK)?
Why did Fitch downgrade Braskem's rating?
Did Braskem describe any measures to address the downgrade?
Does the filing mention other risks that could affect Braskem's results?
How can investors obtain more information from Braskem (BAK)?
