...United States Steel Corporation's ratings are supported by a combination of debt reduction strengthening the balance sheet, continued focus on cost reduction and operational efficiency and Fitch Ratings' expectation that the company's Tubular segment has stabilized and will have a neutral to positive effect on profitability. The ratings also reflect U. S. Steel's demonstrated progress on its asset revitalization program (ARP), along with its additional announced capital investments focused on improving its cost structure. Fitch believes targeted investments will improve profitability through the cycle, partially offsetting the risk of increased cash outflows in a weaker steel market environment. Fitch expects annual EBITDA of at least $1 billion per year, barring a significant decline in steel market conditions. The stabilization of the Outlook reflects the recent announcement of a new capital-intensive investment at Mon Valley Works, in addition to the ARP, resulting in significantly higher...
