Moody’s eyes U.S. Steel for upgrade

Moody's Investors Service said it placed United States Steel Corp.'s ratings under review for upgrade including its Ba3 corporate family rating, Ba3-PD probability of default rating, and its B1 senior unsecured debt rating. The agency also placed Big River Steel LLC's Ba2 secured debt rating under review for upgrade.

Previously, the outlook for both U. S. Steel and Big River Steel was stable.

U.S. Steel’s agreement to be acquired by Nippon Steel, rated Baa2, in an all-cash deal including the assumption of debt prompted the review, Moody’s said.

The transaction is expected to close in the second or third quarter of 2024, subject to customary closing conditions and regulatory approvals.

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