BRKM5.SA is trading 8.4% down at $6.25 after S&P Global Ratings downgraded the company to D default following a São Paulo court injunction protecting it from creditor actions. * S&P's move to a default rating was triggered by a court-ordered stay on creditor claims, signaling immediate liquidity stress. * Fitch Ratings also downgraded Braskem to C from CC, highlighting significant restructuring risks and debt-payment concerns. * The sharp decline is tied to company-specific financial distress and does not reflect broader market sentiment.