S&P ups Mittal view to positive

Standard & Poor's said it revised its outlook on Mittal Steel Co. NV and Arcelor SA (together referred to as Arcelor-Mittal after the merger in August 2006) to positive from stable and affirmed the BBB long-term corporate credit rating on Arcelor-Mittal.

The revision reflects the combined group's improving financial profile and successful integration progress, S&P said.

The ratings are constrained by uncertainty about Arcelor-Mittal's ambition to act as an industry consolidator and participate in a number of large new projects, which might pressure the group's financial profile if they are debt financed, the agency said.

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