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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.