Moody’s revises U.S. Steel to positive

Moody's Investors Service said it changed United States Steel Corp.’s (U.S. Steel) outlook to positive from negative.

At the same time, the agency affirmed the B3 corporate family rating, B3-PD probability of default rating, B1 senior secured rating, Caa1 senior unsecured rating, including the IRB's ratings and the provisional Caa1 rating on the company's shelf registration for senior unsecured debt issuance.

The speculative grade liquidity rating is unchanged at SGL-2.

Moody’s said the outlook change acknowledges the steps the company has taken to improve its productivity and efficiency of operations but more importantly the improved fundamentals for its U.S. mills operating performance, as evidenced by a significant turn-around in the company's performance in the quarter ended June 30.

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