ADVFN - Advanced Financial Network.
HOME» NYSE » M » MT Stock Price » MT Stock News

Mittal Steel Share News

 Arcelor Mittal New Stock Price
MT Stock Price
 Arcelor Mittal New Stock Chart
MT Stock Chart
 Arcelor Mittal New Stock News
MT Stock News
 Arcelor Mittal New Company Information
MT Company Information
 Arcelor Mittal New Stock Trades
MT Stock Trades

ArcelorMittal Committed To Keeping Credit Rating Despite Low Cost Of Downgrade

By Alex MacDonald LONDON--Steel giant ArcelorMittal (MT) remains committed to maintaining its investment grade credit rating--despite the relatively low cost incurred from a one notch downgrade--because it views the credit rating as important in its role as a consolidator of the industry, the company's chief financial officer said Wednesday. In order to "continue consolidating...the appropriate rating for our investment size is investment grade," Aditya Mittal told analysts in a conference call. ArcelorMittal has been seeking to reduce its debt in order to maintain its investment grade credit rating after Standard and Poor's said the company must reduce its adjusted debt, a metric that includes liabilities that aren't often apparent on the balance sheet, by about $11 billion to $30 billion in order to maintain its BBB-/A-3 long- and short-term corporate credit rating. So far the company has reduced its adjusted debt by $4 billion, Mittal said. He noted that the company remains committed to its investment grade even though the consequence of a one notch credit downgrade is equivalent to an additional $100 million in interest expenses. The company has reduced its adjusted debt through a combination of non-core asset sales and changes to pension plans as evidenced in the case of a change in the employee benefit plans for its Dofasco operations in Canada. -Write to Alex MacDonald at Subscribe to WSJ:

Stock News for Mittal Steel (MT)
10/10/201518:11:58ArcelorMittal: Buy This Beaten-Down Stock
10/07/201511:37:00ArcelorMittal to Exit Algeria Via Stake Disposals -- Update
10/07/201510:17:58Report of Foreign Issuer (6-k)
10/07/201507:20:00ArcelorMittal to Exit Investment in 3 Algerian Steel-Related...
09/30/201511:06:00Stock Summaries from the Basic Materials Sector - Nabors Industries...
09/22/201508:33:00Technical Coverage on the Basic Materials Sector -- Weatherford...
08/24/201519:48:00ArcelorMittal Finds Unlikely Success in French Rust Belt
08/24/201517:37:00ADRs End Lower; Chinese, Commodities Firms Decline
08/15/201505:59:47Steelworkers to Rally for Wage, Health-Benefit Pacts
08/12/201505:00:06Global Stocks Continue to Fall on China Concerns
08/12/201504:33:07Global Stocks Continue to Fall after Yuan Devaluation
08/11/201518:20:15U.S. Steelmakers Again Ask for Tariffs on Imports
08/11/201517:50:53ADRs End Lower; Miners, Steelmakers Among Decliners
08/11/201512:57:14Global Stocks Fall After Yuan Move -- 7th Update
08/11/201511:40:16Global Stocks Fall After Yuan Move -- 6th Update
08/11/201510:37:16Global Stocks Fall After Yuan Move -- 5th Update
08/11/201509:33:50Global Stocks Fall After Yuan Move -- 4th Update
08/11/201508:14:10Global Stocks Fall After Yuan Move -- 3rd Update
08/06/201519:28:16Steelmakers Try to Stay Out in Front in Auto Industry
08/06/201509:20:00Review on Steel and Iron Industry Stocks -- A.K. Steel Holding...

Mittal Steel and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations