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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.

A Tesla logo is displayed on a Tesla Inc. Model S electric vehicle.

Photographer: Stefan Wermuth/Bloomberg
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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.