Fitch lowers U.S. Steel

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

“The ratings reflect Fitch's expectation that key steel end markets, particularly automotive and energy will be materially weaker in 2020 in addition to the uncertainty associated with the coronavirus global pandemic's longer-term impact on the economy,” said Fitch in a press release.

The outlook is negative.

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