Fitch cuts ArcelorMittal view to negative

Fitch Ratings said it changed ArcelorMittal SA's outlook to negative from stable and affirmed its long-term issuer default rating and senior unsecured rating at BBB and short-term issuer default rating at F2.

The outlook revision reflects the agency's increased concern regarding the pace and timing of the current recovery in world steel prices and volumes, Fitch said.

The ratings continue to reflect its core strengths including its scale as the world's largest steel producer, the agency said.

Further strengths include its leading market positions in most key steel consuming regions, significant product and geographic diversification, competitive operating cost positions and strong participation at all stages of the steel value chain from ownership of raw materials to control of its own distribution networks, Fitch said.

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