|Bid||18.20 x 800|
|Ask||18.49 x 4000|
|Day's Range||18.23 - 18.59|
|52 Week Range||6.64 - 18.89|
|Beta (5Y Monthly)||1.94|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||May 16, 2019|
|1y Target Est||N/A|
Cleveland-Cliffs (CLF) expects the transaction to close in December 2020, subject to other customary closing conditions.
Moody's Investors Service, ("Moody's") downgraded Cleveland-Cliffs Inc.'s (Cliffs) Corporate Family Rating (CFR) and Probability of Default Rating to B2 from B1 and B2-PD from B1-PD respectively. The guaranteed senior secured note ratings were downgraded to B2 from Ba3, the guaranteed senior unsecured notes were downgraded to B3 from B2 and the senior unsecured notes were downgraded to Caa1 from B3. The Speculative Grade Liquidity Rating is unchanged at SGL-2.
Over the past three months, shares of ArcelorMittal (NYSE: MT) increased by 32.11%. Before having a look at the importance of debt, let us look at how much debt ArcelorMittal has.ArcelorMittal's Debt According to the ArcelorMittal's most recent balance sheet as reported on February 23, 2017, total debt is at $15.62 billion, with $13.31 billion in long-term debt and $2.31 billion in current debt. Adjusting for $2.50 billion in cash-equivalents, the company has a net debt of $13.12 billion.Let's define some of the terms we used in the paragraph above. Current debt is the portion of a company's debt which is due within 1 year, while long-term debt is the portion due in more than 1 year. Cash equivalents include cash and any liquid securities with maturity periods of 90 days or less. Total debt equals current debt plus long-term debt minus cash equivalents.Investors look at the debt-ratio to understand how much financial leverage a company has. ArcelorMittal has $75.14 billion in total assets, therefore making the debt-ratio 0.21. Generally speaking, a debt-ratio more than one means that a large portion of debt is funded by assets. As the debt-ratio increases, so the does the risk of defaulting on loans, if interest rates were to increase. Different industries have different thresholds of tolerance for debt-ratios. A debt ratio of 35% might be higher for one industry and normal for another.Why Investors Look At Debt? Besides equity, debt is an important factor in the capital structure of a company, and contributes to its growth. Due to its lower financing cost compared to equity, it becomes an attractive option for executives trying to raise capital.Interest-payment obligations can impact the cash-flow of the company. Equity owners can keep excess profit, generated from the debt capital, when companies use the debt capital for its business operations.Looking for stocks with low debt-to-equity ratios? Check out Benzinga Pro, a market research platform which provides investors with near-instantaneous access to dozens of stock metrics - including debt-to-equity ratio. Click here to learn more. See more from Benzinga * Click here for options trades from Benzinga * A Look Into Energizer's Debt * Cisco's Debt Overview(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.