BASF's agreement to sell its coatings unit comes as it aligns its strategy and adjusts its cost structure and operational footprint to the chemicals industry's difficult environment.
Our credit view of this issuer reflects its vertical integration, allowing operating flexibility and economies of scale, offset by its expectation of negative Moody's-adjusted FCF.
Our credit view of BASF (SE) reflects its leading global market positions across key geographies, offset by its expectation of negative Moody's-adjusted FCF.
Our credit view reflects our expectation of credit metrics that position the rating adequately in the A3 category, against the expectation of negative Moody's-adjusted FCF.