Ontario court okays U.S. Steel debtor financing for Canada unit

Wed Oct 8, 2014 4:47pm EDT
 
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TORONTO Oct 8 (Reuters) - A Canadian court on Wednesday said it would approve U.S. Steel Corp's debtor-in-possession (DIP) financing facility for the company's Canadian unit.

Not all parties and creditors that had raised objections to the structure of the DIP facility have consented, but they have opted not to object in the interest of the stability of the company's operations in Canada, the Ontario court heard. (Reporting by Euan Rocha, writing by Alastair Sharp; Editing by David Gregorio)