Fitch rates ArcelorMittal notes BBB

Fitch Ratings said it has assigned ArcelorMittal SA's prospective euro-note issues expected senior unsecured ratings of BBB.

The announced aggregate amount of €2.5 billion will be split into two issues: €1.5billion due in 2013 and €1.0 billion due in 2016, the agency said.

Fitch noted that the expected ratings are in line with ArcelorMittal's long-term issuer default rating of BBB, adding that the company plans to use the net proceeds from the notes to refinance and extend the tenor of existing group debt due over the next three years.

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