Moody’s changes ArcelorMittal view to negative

Moody’s Investors Service said it changed the outlook for ArcelorMittal to negative from stable.

“We are changing the outlook on ArcelorMittal’s ratings to negative, reflecting the group’s sharp earnings decline this year in the context of sluggish end-market demand, and deteriorating steel spreads. Although credit metrics will remain weak for the affirmed Baa3 rating also in 2020, we expect a gradual recovery on slightly improving market conditions and the group’s continued focus on debt reduction, including through planned asset disposals, said Goetz Grossmann, Moody’s lead analyst for ArcelorMittal, in a press release

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