NEW YORK (Standard&Poor's) Oct. 17, 2014--Standard&Poor's Ratings Services today placed its 'A/A-2' rating on Indiana Finance Authority's $38 million environmental improvement revenue refunding bonds series 2006 due Aug. 1, 2030, on CreditWatch with negative implications. Today's rating action reflects the Oct. 3, 2014, placement of our long- and short-term issuer credit ratings on ArcelorMittal ('BB+/Watch Neg/B'), the obligor, on CreditWatch with negative implications. The long- and short-term components of our ratings on the bonds are based on the joint credit and liquidity support provided by Banco Bilbao Vizcaya Argentaria ('BBB/A-2'), the letter of credit (LOC) provider, and ArcelorMittal ('BB+/Watch Neg/B'), the obligor, assuming a low correlation level between the LOC provider and obligor. The long-term components
