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An undated photo of an ArcelorMittal steel worker. (AP)
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Arcelor puts lenders ahead of shareholders
BOYD ERMAN
— The Globe and Mail
Published
Last updated
Steel producer ArcelorMittal is showing that even in the friendliest credit markets in a long time, at some point you have to put lenders ahead of shareholders and fix an overburdened balance sheet. The result is that investors who bet on Arcelor’s credit improving are way ahead of those who simply bought the company’s stock.
