Braskem, a major Brazilian chemical company, was reported to have defaulted on a significant R$ 3.6 billion loan from Banco do Brasil during the last quarter of the previous year. According to internal sources, the default was rectified in January of the current year. This incident raised concerns about the bank's financial health, as its delinquency rate increased notably in the quarterly financial report, reaching 5.17% for loans overdue by more than 90 days, which is a significant rise from the previous quarter.

The bank's report indicated that the corporate borrower delinquency rate was at 3.75%, largely attributed to this singular case involving Braskem. However, the bank did not disclose the name of the company responsible for the default in its financial statement, which has prompted various speculations in the market, particularly among investors. The financial woes of Braskem have led to a notable decrease in its stock value, contributing to its position at the bottom of the Ibovespa index on the day of the news.

This situation highlights the vulnerabilities within Brazil's corporate sector and the impact of large defaults on both corporate reputations and the financial institutions involved. Stakeholders are closely monitoring the recovery of Braskem and the broader implications for credit availability and financial stability within the Brazilian economy in the wake of this incident.