ThyssenKrupp Ratings Raised To 'BBB/A-2' On Dofasco Decision; Outlook Stable Jan 07

Standard & Poors, January 2007

Abstract
LONDON (Standard & Poor's) Jan. 25, 2007--Standard & Poor's Ratings Services said today it raised its long-term corporate credit and senior unsecured debt ratings on Germany-based industrial conglomerate ThyssenKrupp AG (TK) to 'BBB' from 'BBB-'. This reflects the group's recent announcement that the chances of acquiring Dofasco Inc. (BBB/Stable/--) from The Netherlands-based Arcelor-Mittal (Mittal Steel Co. N.V. BBB/Stable/--; Arcelor S.A. BBB/Stable/A-2) are now very remote. The rating action also reflects the group's strengthened financial risk profile. At the same time, the short-term corporate rating was raised to 'A-2' from 'A-3'. The outlook is stable. Following a recent Dutch court ruling concerning TK's lawsuit against Mittal Steel in relation to the acquisition of Dofasco, TK has decided to proceed with its...

Companies mentioned in this report are:
- ThyssenKrupp AG
- ArcelorMittal
- ArcelorMittal Dofasco Inc.
- Arcelor S.A.

Action: Outlook: Stable
Action: Upgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- ThyssenKrupp AG
- ArcelorMittal
- ArcelorMittal Dofasco Inc.
- Arcelor S.A.

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