ArcelorMittal -- Moody's: ArcelorMittal's announced JV and issuance of common stock and hybrid notes are credit positive

London, 09 January 2013 -- Moody's Investors Service has today said that it views two recently announced cash-raising actions by ArcelorMittal as credit positive, given that the actions will help the company reduce debt in support of its Ba1 rating (negative outlook). However, these actions do not have an immediate impact on ArcelorMittal's rating because Moody's had already taken them into account when it downgraded the company's rating to Ba1 on 6 November 2012. Over the next six months, Moody's expects the company to conclude additional asset sales and execute other credit-enhancing measures that will facilitate debt reduction in support of the Ba1 rating.

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