Tesla Nears Blue-Chip Status After S&P Upgrades Credit Score
- Credit rater upgraded the company to BBB, two steps above junk
- EV maker needs one more IG upgrade to move to blue-chip status
A Tesla logo is displayed on a Tesla Inc. Model S electric vehicle.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Tesla Inc. is one step closer to clinching overall blue-chip status after S&P Global Ratings raised the electric-vehicle maker’s credit score to investment grade.
The Austin, Texas-based company’s rating was upgraded to BBB on Thursday, two steps above junk, from BB+ by S&P, analysts Nishit Madlani and David Binns said in a statement.