S&P places Nippon Steel on negative credit watch after U.S. Steel deal

Ratings agency S&P on Wednesday placed its 'BBB+' long-term issuer credit rating on Nippon Steel Corp on negative credit watch after it clinched a deal to buy U.S. Steel for $14.9 billion in cash. The acquisition is likely to result in a significant deterioration in Nippon Steel's financial position because of a sharp increase in ...