Dec 20 (Reuters) - Ratings agency S&P on Wednesday placed its 'BBB+' long-term issuer credit rating on Nippon Steel Corp (5401.T) on negative credit watch after it clinched a deal to buy U.S. Steel (X.N) 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.

https://www.reuters.com/markets/commodities/sp-places-nippon-steel-negative-credit-watch-after-us-steel-deal-2023-12-20/