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Bulletin: Mittal Ratings Unaffected By Proposed Buyout Of Minority Stake In Arcelor Brazil For $3.1 Bil.

Published Oct 26, 2006

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Abstract:

MOSCOW (Standard&Poor's) Oct. 26, 2006--Standard&Poor's Ratings Services said today that its ratings and outlook on The Netherlands-based steel group Mittal Steel Co. N.V. (BBB/Stable/--) remain unchanged after the company filed a request for registration with respect to a $3.1 billion public offer for the minority stake in Arcelor Brazil S.A., which is 66% owned by related entity Arcelor S.A. (BBB/Stable/A-2). Arcelor merged with Mittal Steel earlier in 2006. The offer terms are subject to regulatory approval, so we believe that the actual execution cannot be expected earlier than in several months time. We believe the cash outlay will be only moderate and, therefore, Mittal's financial ratios will not be significantly affected. This is because: The offer

Report Type:

Bulletin

Ticker

IST@NA

Issuer

ArcelorMittal

GICS

Steel (15104050)

Sector

Global Issuers, Structured Finance

Country

Luxembourg

Region

United States

Format:

HTML

Summary: Arcelor-Mittal – 2006/11/10 – US$ 225.00

Summary: Arcelor-Mittal – 2007/02/27 – US$ 225.00

Arcelor-Mittal Outlook Now Pos. On Financial And Integration Progress; 'BBB' Rating Affirmed – 2007/04/27 – US$ 150.00

Research Update: Arcelor-Mittal Outlook Now Pos. On Financial And Integration Progress; 'BBB' Rating Affirmed – 2007/04/27 – US$ 225.00

Arcelor-Mittal – 2007/05/25 – US$ 500.00

Mittal Cut To 'BBB'; Arcelor Affirmed At 'BBB' On Offer Acceptance; Off Watch; Outlooks Stable – 2006/07/26 – US$ 150.00

Research Update: Mittal Ratings Cut To 'BBB' After Arcelor Accepts Takeover Offer; Off Watch; Outlook Stable – 2006/07/26 – US$ 225.00

Research Update: Mittal Steel 'BBB+' Ratings Still On Watch Negative Following Agreed Offer For Arcelor – 2006/06/26 – US$ 225.00

Mittal Steel And Arcelor Still On Watch Following Mittal's Increased Takeover Bid For Arcelor – 2006/05/19 – US$ 150.00

Research Update: Mittal Steel 'BBB+' Ratings Still On CreditWatch Negative On Increased Bid For Arcelor – 2006/05/19 – US$ 225.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Mittal Ratings Unaffected By Proposed Buyout Of Minority Stake In Arcelor Brazil For $3.1 Bil." Oct 26, 2006. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Mittal-Ratings-Unaffected-By-Proposed-Buyout-Of-Minority-Stake-In-Arcelor-Brazil-For-3-1-Bil-541074>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Mittal Ratings Unaffected By Proposed Buyout Of Minority Stake In Arcelor Brazil For $3.1 Bil. Oct 26, 2006. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Mittal-Ratings-Unaffected-By-Proposed-Buyout-Of-Minority-Stake-In-Arcelor-Brazil-For-3-1-Bil-541074>

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