U.S. Steel downgraded again
U.S. Steel’s credit rating is being cut by Moody’s Investors Services, putting the steelmaker’s stock deeper into junk territory.
The rating firm says U.S. Steel has struggled with soaring raw material costs, combined with a depressed construction industry.
But there is some positive news coming from Moodys.
It noted the company’s position as a major steel producer with a good diversity of products, and says it will consider an upgrade if economic conditions in the U.S. and Europe strengthen.
