Messina (Intesa): nationalizing Ilva. Moody’s: with Taranto, ArcelorMittal rating at risk


iron metallurgy

Waiting for the arrival of Count in Puglia

I'd say.

Ex-Ilva, Patuanelli: Arcelor is unable to meet commitments

2 'of reading

The steel front a Taranto, after the decision announced by the French-Indian group ArcelorMittal to abandon the steel plant ex Ilva .

Count in Taranto
The premier Giuseppe Conte is expected in the afternoon in Taranto, according to what we learn from union sources. Meanwhile, today's strike of steel workers has basically failed with 27% membership according to union sources, while companies in the related sector have stopped.

Messina: nationalize
According to the CEO of Intesa Sanpaolo, Carlo Messina, the Italian government must try to "find an agreement" with ArcelorMittal on the former Ilva but, if this is not possible, it should proceed to its nationalization. "My expectation is that there will be a negotiation on the Ilva but if it were not possible to find an agreement with Mittal the government should consider a very hard nationalization, even against Europe," the banker said.

Suspended installments of loans and mortgages
Meanwhile, Intesa Sanpaolo suspends mortgage repayments for former Ilva workers. The bank, a note reads, «to support the employees of the former Ilva company, has decided to give the possibility to those of the workers of the group and of the suppliers are its customers, to suspend the mortgage and loan installments personal for a period up to 12 months, thus collecting the proposal of Fabi». The suspension request is specified and must be presented by the employees concerned at its Intesa Sanpaolo branch, which will finalize it.

Moody's alarm
The financial front is also on fire. Moody's has confirmed today the rating of ArcelorMittal a Baa3 for long-term debt, but also underlined the risks for the group's judgment if it did not resolve the contract with Ilva in a timely manner as announced. Meanwhile, Moody's has changed theoutlook from stable to negative.

Source link–moody-s-taranto-rating-arcelormittal-rischio-ACINIix



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