Uber Raised to Investment-Grade by S&P on Earnings Growth
- Bond grader cites consistent earnings growth and discipline
- Ride hailing company’s ratings upgraded to BBB- on Friday
Uber signage on a vehicle in New York.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
S&P Global Ratings upgraded Uber Technologies Inc.’s credit ratings to investment-grade status on Friday, citing the ride-hailing and food-delivery company’s consistent earnings growth.
Uber’s main bond ratings were upgraded to BBB-, the lowest investment-grade level, from BB+, the highest junk grade, S&P said in a statement. Investment-grade credit ratings can translate to lower borrowing costs for a company, because a wider array of investors are eligible to buy high-grade securities.