S&P assigns United States Steel notes BB

Standard & Poor's said it assigned its BB issue-level rating to United States Steel Corp.'s proposed $400 million senior unsecured notes due 2022. The recovery rating is 3, indicating an expectation for meaningful recovery in the event of a payment default.

The agency said the rating reflects its assessment of the company's business risk profile as "fair" and financial risk profile as "aggressive."

The agency also said it expects that, as the economy continues to slowly expand, United States Steel's credit measures will gradually improve to levels S&P considers more in line with the BB rating, given the company's fair business risk profile.

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