BASF profit warning raises fears of down cycle for chemicals

If A1/A+ rated BASF was worried its credit rating would drop, S&P Global has given it some good news. On Thursday, the agency said it expected the chemical producer's Monday profit warning to have only a moderate impact on Its credit ratings. But a gloomy outlook still hangs over the chemicals sector, and companies in the low triple-B band may well have a tougher time in the bond market.