Tesla stock has been promoted to blue chip status after Moody’s upgraded its rating of the electric vehicle maker.
is now a blue-chip stock. Moody’s Investors Service assigned a ‘Baa3’ long-term issuer rating on Monday to the electric vehicle and clean energy company. The bond ratings agency also withdrew the company's ‘Ba1’ corporate family rating.
‘Baa3’ is Moody's lowest investment grade rating. ‘Ba1’ is the agency's highest speculative grade rating. "The rating action reflects expectation that Tesla will remain one of the foremost manufacturers of battery electric vehicles with an expanding global presence and very high profitability," Moody's said
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