ArcelorMittal locked out of credit markets as bonds sink

摘要

ARCELORMITTAL, the steelmaker facing almost $15 billion of bond repayments over about six years, has been locked out of credit markets, according to money managers. Bonds of the world's largest producer of the alloy have fallen to levels that make an immediate return to the market too costly, said Olivier Monnoyeur, a high-yield portfolio manager at BNP Paribas Investment Partners.