We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

Fallen angel

6 November 2012 By Quentin Webb

Moody’s was unexpectedly fast to junk the steelmaker. The financial fallout is limited. But the move underscores Arcelor’s operational and deleveraging challenge. Covenants are still tight and the time for a preventive rights issue has passed, making any future cash call harder.

This content is for Subscribers only

To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.

 

Email a friend

Please complete the form below.

Required fields *

*
*
*

(Separate multiple email addresses with commas)