Moody’s revises ArcelorMittal to positive

Moody's Investors Service said it changed the outlook on all the ratings of ArcelorMittal to positive from stable.

At the same time, the agency affirmed ArcelorMittal's Ba1 corporate family rating and Ba1-PD probability of default rating, as well as its Ba1 senior unsecured ratings and provisional Ba1 senior unsecured medium-term note program and shelf ratings. Additionally, Moody's affirmed the Non-Prime (NP) and provisional NP short-term ratings.

"The outlook change to positive from stable reflects ArcelorMittal's strengthening credit profile on the back of improved market conditions, successful efforts to reduce debt and expectations that its free cash flow will turn positive in 2017-18," Gianmarco Migliavacca, Moody's vice president, senior credit officer and lead analyst for ArcelorMittal, said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.