Moody's could cut AK Steel

Moody's Investors Service said it placed AK Steel Corp.'s B1 corporate family and probability of default ratings as well as the company's B2 senior unsecured notes and revenue bond ratings under review for possible downgrade.

At the same time, Moody's downgraded the speculative grade liquidity rating to SGL-3 from SGL-2.

Moody's said the review for downgrade reflects the deterioration in AK Steel's debt protection metrics as a result of ongoing weakness in operating performance and net losses being incurred.

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