One Rating Raised, One Rating Affirmed On Two LOC-Supported Bond Issues

NEW YORK (S&P Global Ratings) Feb. 14, 2018--S&P Global Ratings today raised its rating on Indiana Finance Authority's $38 million environmental improvement revenue refunding bonds series 2006 due Aug. 1, 2030, to 'A-/A-2' from 'BBB+/A-2' (see list). At the same time, we also affirmed our 'A+/A-1'rating on Indiana Finance Authority's $51.48 million environmental improvement revenue refunding bonds series 2005 due June 1, 2035. Today's rating actions reflect the Feb. 1, 2018, raising of our long-term issuer credit rating on the obligor, ArcelorMittal, to 'BBB-/A-3' from 'BB+/B'. The long- and short-term components of our ratings are based on our long- and short-term ratings on, as well as the joint support provided by, ArcelorMittal, the obligor, and the respective letter of credit

...NEW YORK (S&P Global Ratings) Feb. 14, 2018--S&P Global Ratings today raised its rating on Indiana Finance Authority's $38 million environmental improvement revenue refunding bonds series 2006 due Aug. 1, 2030, to 'A-/A-2' from '###+/A-2' (see list). At the same time, we also affirmed our 'A+/A-1'rating on Indiana Finance Authority's $51.48 million environmental improvement revenue refunding bonds series 2005 due June 1, 2035. Today's rating actions reflect the Feb. 1, 2018, raising of our long-term issuer credit rating on the obligor, ArcelorMittal, to '###-/A-3' from '##+/B'. The long- and short-term components of our ratings are based on our long- and short-term ratings on, as well as the joint support provided by, ArcelorMittal, the obligor, and the respective letter of credit (LOC) providers, assuming a low correlation level between the LOC providers and the obligor. The following entities serve as LOC providers for the respective bonds: + Banco Bilbao Vizcaya Argentaria S.A. ('###+/A-2')...

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