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Bond Market News
Braskem Downgraded to RD by Fitch
August 17, 2026
– Vandit P
Braskem S.A. was downgraded to Restricted Default (RD) from C by Fitch. This follows Braskem’s failure to make scheduled interest payments and the expiration of the applicable grace period without curing the default. Fitch considers this an uncured default on a material financial obligation, despite no bankruptcy filing, formal liquidation, or ceasing of operations by the company. Braskem is currently pursuing a broader debt restructuring with creditors as it seeks to preserve liquidity amid challenging market conditions. According to Fitch, the repayment of Braskem’s bonds remains uncertain as without additional funding, the company may need a combination of asset sales, an equity injection from shareholders, or renegotiation of its outstanding liabilities. Earlier, Braskem was downgraded to D by S&P on the company’s filing for precautionary injunctive relief.
Braskem’s 4.5% 2028s was stable at 57.1 cents on the dollar.
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