We are assigning a short-term corporate credit rating of 'A-3' to Luxembourg-registered steel group ArcelorMittal. This is in addition to the existing 'A-3' short-term rating on ArcelorMittal Finance. The long-term corporate credit rating is unchanged at 'BBB'. The negative outlook reflects the possibility of a downgrade if we see insufficient prospects of the group improving its credit metrics in 2010. On Feb. 19, 2010, Standard&Poor's Ratings Services assigned its short-term corporate credit rating of 'A-3' to Luxembourg-registered steel group ArcelorMittal. This is in addition to the existing 'A-3' short-term rating on ArcelorMittal Finance (BBB/Negative/A-3). The 'BBB' long-term corporate credit rating and negative outlook are unchanged. The 'A-3' short-term rating is determined by our criteria, being mapped from the
