(Reuters) - 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 debt for investments, the agency added.
S&P
places Nippon Steel on negative credit watch after U.S. Steel deal