Fitch lifts ArcelorMittal view to stable

Fitch Ratings said it revised the outlook on ArcelorMittal's long-term issuer default rating to stable from negative.

The agency also said it affirmed the company's long-term issuer default rating and senior unsecured rating at BB+.

The short-term issuer default rating also was affirmed at B.

The outlook revision reflects better de-leveraging prospects for ArcelorMittal compared to a year ago due to an improvement in the global steel industry, Fitch said.

As a result, the company is well placed to achieve credit metrics in line with a BB+ rating before year-end 2018, the agency said.

The recovery in the steel industry and positive debt protection measures that the company took in 2016 has resulted in a material improvement in the company's financial profile, Fitch said.

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