Significant EBITDA base across cycles, with increasing presence in high-growth economies. Leading market positions, and adequate product and geographic diversification. Conservative financial policy, moderate debt, strong liquidity, and long-dated debt maturity profile. Exposure to swings in demand, GDP, industry conditions, and energy and feedstock prices. Capital intensity and industry competition. The ratings on French chemical producer Arkema S.A. reflect Standard&Poor's Ratings Services' opinion of the group's "satisfactory" business risk profile and "intermediate" financial profile. In our assessment of Arkema's business risk profile, we factor in the group's leading market positions in several niche intermediate and specialty chemical markets, together with substantially increased EBITDA and profit resilience in recent years, in our view, thanks to wide-reaching restructuring, growth endeavors,
