by Amruth Sundarkumar | Aug 29, 2022 | Corporates, Credit Ratings
US Steel was upgraded to BB- to B+ by S&P due to the steelmaker’s ongoing deleveraging and liquidity preservation. The company reported an adjusted EBITDA of $1.4bn in 2Q 2022, up 50% YoY. S&P expects a moderation in 2H 2022 earnings with adjusted EBITDA...
by Amruth Sundarkumar | Jun 14, 2022 | Corporates, Credit Ratings
Fitch upgraded US Steel to BB from BB-, with a stable rating outlook. The improvement in US Steel’s rating is firstly indicative of their constructive debt reduction program. Currently, they have no outstanding borrowings on credit facilities after reducing...
by Amruth Sundarkumar | Jan 28, 2022 | Corporates
US Steel reported its Q4 2021 results with net income of $1.07bn, 22x its numbers during the same period last year that were impacted by the pandemic. Net sales rose 119% YoY to $5.6bn. The steel company said that it plans to buyback $500mn of stock beginning in Q1...
by Amruth Sundarkumar | Dec 10, 2021 | Financial News
US Steel was upgraded to Ba3 from B1 by Moody’s. The rating agency notes that US Steel’s operating results have materially strengthened in 2021, expecting an adjusted EBITDA of ~$6bn. This comes after a quicker than expected recovery in its key end...
by Amruth Sundarkumar | Oct 4, 2021 | Corporates, Credit Ratings
US Steel was upgraded to BB- from B with a positive outlook reflecting “significant debt repayment over the near term, solid steel market conditions, including historically high steel prices.” These would result in significantly higher EBITDA generation...
