Braskem (NYSE: BAK) hit with Fitch and S&P downgrades to CCC ratings
Rhea-AI Filing Summary
Braskem S.A. reported that credit rating agencies Fitch Ratings and S&P Global Ratings have lowered its global-scale corporate credit ratings to CCC+ and CCC-, respectively, both with a negative outlook. These ratings signal that the agencies see Braskem as highly vulnerable to adverse business or financial conditions.
The Company states that it remains committed to its stakeholders and is focused on resilience and transformation initiatives to address the prolonged global downturn affecting the chemical industry and to strengthen the competitiveness of the Brazilian chemical sector. Management also reiterates that forward-looking statements are subject to significant risks and uncertainties, including industry conditions, legal matters in Alagoas and broader economic factors.
Positive
- None.
Negative
- Multiple rating downgrades with negative outlooks: Fitch Ratings cut Braskem’s global corporate credit rating to CCC+ and S&P Global Ratings lowered it to CCC-, both assigning a negative outlook, signaling heightened perceived credit risk.
Insights
Braskem faces deeper credit stress after Fitch and S&P downgrades with negative outlooks.
Braskem S.A. disclosed that Fitch Ratings cut its global corporate credit rating to CCC+ and S&P Global Ratings to CCC-, both with a negative outlook. These levels are deep into speculative grade and typically indicate a high risk that adverse market or operating conditions could impair the Company’s ability to meet financial obligations.
The Company links its current efforts to “resilience and transformation initiatives” and notes the “industry's prolonged global downturn” in chemicals. It also highlights risk factors such as legal procedures related to a geological event in Alagoas and broader macroeconomic and industry conditions, which its management acknowledges could cause actual results to differ significantly from expectations.
The negative outlooks from both agencies suggest the rating trajectory is currently tilted toward further pressure rather than stabilization, based on the agencies’ views. Future updates in Company reports and rating agency publications will be key to understanding whether operating initiatives and industry conditions eventually support any change in credit perception.
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 September, 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, September 29, 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 agencies Fitch Ratings and S&P Global Ratings have revised the Company's corporate credit rating on a global scale to CCC+ and CCC- with a negative outlook, respectively.
The Company reinforces its commitment to its stakeholders and continues to focus on implementing resilience and transformation initiatives to mitigate the relevant impacts arising from the industry's prolonged global downturn 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: September 29, 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.