Tesla debt is no longer junk-rated by Moody's after it upgrades Elon Musk's carmaker
bonds to investment-grade status for the first time, saying the Elon Musk-run carmaker's dominance of the EV market and its efforts to keep costs low have boosted its ability to repay its debts.
The agency, which judges companies' ability to pay back bondholders, lifted the company's rating by one notch Monday. It now gives Tesla a"Baa3" rating, meaning it's no longer labeling its bonds as"junk" or purely speculative —the outlook used for companies that might struggle to repay their debts. "The rating action reflects Moody's expectation that Tesla will remain one of the foremost manufacturers of battery electric vehicles with an expanding global presence and very high profitability," Rene Lipsch, senior credit officer at Moody's, said in a"The upgrade also incorporates governance considerations, including Tesla's prudent financial policy and management's operational track record," he added.
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