World leading integrated chemical producer, with unique "Verbund" integration strategy Improving business risk profile, owing to continuing expansion of businesses not following the petrochemical cycle, such as specialty chemicals, oil and gas, and crop protection Strong product diversification and strong geographic diversification Modest financial risk and strong cash flow generation capability Highly capital intensive chemical and oil and gas activities and high sensitivity to demand/supply imbalances resulting in volatile earnings and cash flow Continuous need for cost and portfolio optimization in the chemical business The ratings on Germany-based chemicals producer BASF AG reflect the group's modest financial risk and its global leadership as an integrated chemicals producer, benefiting from a broadly diversified portfolio of commodity and specialty chemicals, crop protection
