Fitch upgrades U.S. Steel

Ratings said it raised United States Steel Corp.'s issuer default rating to BB from BB-, the unsecured notes and unsecured environmental revenue bonds to BB/RR4 from BB-/RR4 and the asset-based lending credit facility to BBB-/RR1 from BB+/RR1.

“The upgrade reflects U. S. Steel's significant debt repayment over the past few years and solid steel market conditions, including historically high steel prices, resulting in significant EBITDA generation and Fitch's expectation total debt/EBITDA will be sustained below 2.5x,” the agency said in a press release.

The outlook is stable.

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