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Fitch revises ArcelorMittal's view to positive
Fitch Ratings said it revised ArcelorMittal SA's outlook to positive from negative while affirming the steel group's long-term issuer default rating and senior unsecured ratings at BB+.
The positive outlook reflects the group's revised capital-allocation framework addressing shareholder distributions, decisive actions by ArcelorMittal to preserve its financial profile during the pandemic that resulted in absolute debt reduction as well as forecast deleveraging and positive free cash flow (FCF) generation, Fitch said in a news release.
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