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Moody's rates U.S. Steel SGL-1
Moody's Investors Service said it assigned an SGL-1 speculative grade liquidity rating to United States Steel Corp. The company's Ba2 corporate family and probability-of-default ratings were affirmed.
The outlook remains negative.
U.S. Steel's SGL-1 rating reflects its excellent liquidity profile following its common stock issuance and 4% senior convertible note offering, the agency said.
The Ba2 corporate family rating reflects expectations that U.S. Steel's debt protection ratios and leverage ratios will weaken significantly over the course of 2009 and remain relatively weak in 2010, the agency noted.
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