Fitch rates Braskem notes BB-

Fitch Ratings said it assigned a BB- rating to the proposed offering of $100 million senior unsecured perpetual bonds to be issued by Braskem SA.

The bonds will have no fixed maturity but will be callable in whole on a quarterly basis after the initial five-year term ending June 2010, Fitch said.

The agency added that Braskem maintains an international local currency rating of BB+ and a national scale rating of AA-(bra).

The outlook is stable.

The ratings are supported by the company's strong and improving credit profile, reflecting sustained growth of its operational cash flow, strong liquidity, reduced refinancing risks and an extended debt profile, the agency said.

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