Moody's may lift AK Steel

Moody's Investors Service said it placed the ratings (Ba3 corporate family rating) of AK Steel Corp. under review for possible upgrade.

The review is attributable to the company's improved operating and financial profile driven by strong steel fundamentals and the company's meaningful reduction in debt, pension and OPEB liabilities, the agency said.

Moody's noted that the review will focus on the sustainable level of earnings and cash flow generation in a more normalized steel price environment as well as the company's cost position in light of raw material and energy cost increase challenges.

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