ArcelorMittal's credit profile has been strengthening due to its prudent balance-sheet management and the supportive conditions across its key markets. Because of these supportive conditions and the company's plan to reduce its net debt to $6 billion, we believe its credit metrics will increasingly exceed our minimum thresholds for a 'BBB-' rating. As a result, we are raising our long-term corporate credit and issue-level ratings on ArcelorMittal to 'BBB-' from 'BB+'. The outlook is stable, as supportive steel and iron ore market conditions as well as the company's efficiency measures are bolstering rating resilience. On Feb. 1, 2018, S&P Global Ratings raised its long-term corporate credit rating on global integrated steel producer ArcelorMittal to 'BBB-' from 'BB+' and assigned a
