Fitch lowers U.S. Steel

Fitch Ratings said it downgraded United States Steel Corp.'s long-term issuer default rating to BB- from BB.

The agency also said it downgraded the company's senior secured credit facility to BB from BB+ and senior unsecured notes to BB- from BB.

The outlook is stable.

The ratings reflect adequate liquidity and weak, but improving market conditions, Fitch said.

Its capital expenditures are expected to remain at elevated levels with projects to improve costs or for new products, the agency added.

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