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Braskem’s $11 Billion Debt Rework Puts Spotlight on Petrobras
Source: Bloomberg
M&A & RestructuringSovereign Debt & RatingsCompany Fundamentals
Braskem SA announced an $11B debt restructuring that avoided an immediate move into bankruptcy protection, reducing near-term default risk. However, negotiations remain unresolved, with key disagreements over shareholder-support terms and how existing debt will be reworked. Net: the crisis was deferred, but uncertainty around restructuring outcomes likely remains high.
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