Moody's upgrades ArcelorMittal's CFR to Ba1; stable outlook
London, 24 February 2017-- Moody's Investors Service has upgraded to Ba1 from Ba2 the corporate family rating and to Ba1-PD from Ba2-PD the probability of default rating of ArcelorMittal, the world's largest steel producing company. At the same time, Moody's upgraded to Ba1 from Ba2 the company's senior unsecured ratings and affirmed its Not Prime short-term ratings. The outlook on all the ratings is stable.ArcelorMittal is a steel and mining company, producing finished and semi-finished steel products. Specifically, Co. produces flat steel products, including sheet and plate, and long steel products, including bars, rods and structural shapes. Co. also produces pipes and tubes for various applications as well as various types of mining products including iron ore lump, fines, concentrate and sinter feed, coking, pulverized coal injection and thermal coal. Co. has ore mining activities in Algeria, Brazil, Bosnia, Canada, Kazakhstan, Liberia, Mexico, Ukraine and the U.S. and has prospective mining developments in Canada and India. Co. also has coal mining activities in Kazakhstan and U.S.
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