Fitch Ratings downgraded Braskem S.A. to Restricted Default (RD) from C. This action follows the petrochemical company's failure to make a scheduled interest payment and the subsequent expiration of the grace period.
Braskem is currently preserving liquidity to negotiate a broad debt restructuring with its creditors. Fitch defines this uncured payment failure as a Restricted Default.
The company reported a total debt of $10.3 billion as of June 2026. Braskem likely requires asset sales, equity injections, or liability renegotiations to manage its financial obligations.