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What Wall Street Expects for Cleveland-Cliffs’s Debt

Annie Gilroy
What Wall Street Expects for Cleveland-Cliffs’s Debt

Cleveland-Cliffs (CLF) has come a long way with respect to its debt levels. The company’s change in management in 2014 and its focus on debt reduction have somewhat allayed investors’ concerns. During the Q2 2018 earnings call, Cleveland-Cliffs maintained that bringing its net debt below $1 billion is its second priority, after the focus on the HBI (hot-briquetted iron) plant.