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Fitch Solutions: U.S. Steel's CDS at Tightest Levels in Four Years

NEW YORK--(BUSINESS WIRE)--Credit default swap (CDS) spreads on United States Steel Corporation have tightened to levels not seen since 2010, according to Fitch Solutions in its latest CDS case study snapshot.

Five-year (CDS) on US Steel tightened 29% over the past month. Credit protection on US Steel's debt is pricing 56% lower compared to a year-ago, the tightest levels seen since April 2010. After pricing consistently in line with 'B-' levels, CDS on US Steel are now trading one notch higher.

'US Steel's boost in market sentiment is likely due to better than expected second quarter results and their successful cost cutting program,' said Director Diana Allmendinger.

Fitch Solutions case studies build on data from its CDS Pricing Service and proprietary quantitative models, including CDS Implied Ratings. These credit risk indicators are designed to provide real-time, market-based views of creditworthiness. As such, they can and often do reflect more short term market views on factors such as currencies, seasonal market effects and short-term technical influences. This is in contrast to Fitch Ratings' Issuer Default Ratings (IDRs), which are based on forward-looking fundamental credit analysis over an extended period of time.

Additional information about Fitch Solutions' products is available in the link below:


Fitch Solutions, a division of the Fitch Group, focuses on the development of fixed-income products and services, bringing to market a wide range of data, analytical tools and related services. The division is also the distribution channel for Fitch Ratings content.

Fitch Ratings and Fitch Solutions are part of the Fitch Group, a jointly-owned subsidiary of Fimalac, S.A. and Hearst Corporation. For additional information, please visit 'www.fitchsolutions.com'; 'www.fitchratings.com'; 'www.fimalac.com' and 'www.hearst.com'.


Fitch Solutions
Diana Allmendinger, +1-212-908-0848
Fitch Solutions
33 Whitehall Street
New York, NY 10004
Media Relations
Sandro Scenga, New York, +1-212-908-0278