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TEXT-S&P summary: United States Steel Corp.
December 10, 2012 / 1:28 PM / 5 years ago

TEXT-S&P summary: United States Steel Corp.

Dec 10 -

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Summary analysis -- United States Steel Corp. --------------------- 10-Dec-2012

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CREDIT RATING: BB/Negative/NR Country: United States

State/Province: Pennsylvania

Primary SIC: Steel foundries,

nec

Mult. CUSIP6: 912656

Mult. CUSIP6: 912909

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Credit Rating History:

Local currency Foreign currency

28-Apr-2009 BB/NR BB/NR

17-Jan-2007 BB+/NR BB+/NR

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Rationale

The rating on United States Steel Corp. (U.S. Steel) reflects what Standard & Poor’s Ratings Services considers to be the combination of its “fair” business risk and “aggressive” financial risk. In our view, the integrated steel producer has capital-intensive operations, is exposed to highly cyclical and competitive markets, and has a high degree of operating leverage. Its financial risk profile reflects relatively high levels of book debt and significant underfunded postretirement benefit obligations.

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