S&P ups ArcelorMittal view

S&P said it revised its outlook on ArcelorMittal to positive from stable and affirmed the long- and short-term corporate credit ratings at BB+/B.

S&P also affirmed its issue ratings on ArcelorMittal's unsecured debt at BB+. The recovery rating is unchanged at 3, indicating a 50% to 70% recovery range.

The outlook revision reflects an accelerated improvement in ArcelorMittal's credit profile. This results primarily from persistently supportive steel market conditions and robust average iron ore prices, S&P said in a news release.

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