Fitch Ratings said Wednesday that it has downgraded United States Steel Corp.'s (X) ratings, reflecting lack of visibility into the strength of the recovery and the timing of U.S. Steel's return to profitability.
Fitch has downgraded Issuer Default Rating (IDR) to 'BB+' from 'BBB-', senior secured credit facility to 'BBB-' from 'BBB', and senior unsecured notes to 'BB+' from 'BBB-'.
However, the Rating Outlook is revised to Stable from Negative, as Fitch believes that U.S. Steel's liquidity is sufficient to support operations should the recovery remain weak for the next 12-18 months.
Fitch believes that free cash flow will be negative for 2010 and the ratings incorporate the possibility that the company will seek external financing in the near term for some portion of its capital spending over the next 24-36 months.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.