Sir Jim Ratcliffe’s Ineos has been downgraded to Fitch’s BB- rating - Nicola Campo/LightRocket via Getty Images Billionaire Sir Jim Ratcliffe is facing higher borrowing costs at his Ineos empire after the group’s credit score was cut for the second time in two years. Fitch, the ratings agency, on Tuesday downgraded the creditworthiness of Sir Jim’s company amid concerns about its soaring debt levels and weakness in the global chemicals market. The downgrade to Fitch’s BB- rating marks the second time In ...

Company Overview - LyondellBasell is an international manufacturer of chemicals with over 20% global market share in ethylene products, including plastics, polymers, and synthetic oils [1] Industry Context - The global chemicals manufacturing sector is currently experiencing a cyclical low, with China and Europe de-stocking industrial inventories throughout 2023 [1]