June 18 (Reuters) – SpaceX on Thursday landed investment-grade credit ratings from Moody’s, Fitch and S&P Global Ratings, each assigning a “stable” outlook after the Elon Musk-led company’s high-profile initial public offering.
The consensus signals broad confidence in SpaceX’s financial stability, as the company moves forward with a costly and ambitious AI push in a competitive market.
Moody’s issued a “Baa1” rating, Fitch a “BBB+” and S&P Global Ratings a “BBB” — all signaling that SpaceX’s debt is considered investment-grade, generally indicating a moderate credit risk with sufficient capacity to meet financial commitments.
Shares of SpaceX fell 1.1% in extended trading after they closed down nearly 4% on Thursday.
The company’s valuation surged past $2 trillion following its blockbuster Nasdaq debut last week. Its shares soared in their first two days of trading before giving up some gains as investors assessed whether the company’s rich valuation can be justified by its costly AI push.
S&P said it views SpaceX’s space and connectivity businesses as strong, but AI segment presents uncertainty due to high capital needs and competition.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Joyjeet Das)
