Elon Musk's space and AI firm secured first-time ratings from Moody's, Fitch and S&P Global on Thursday, a milestone that places its debt firmly in investment-grade territory and could allow it to borrow more cheaply as it funds a vast expansion.
The endorsements arrive less than a week after the company's record IPO, which raised around $85.7 billion (€73.8bn) in the largest initial public offering in history.
Moody's assigned SpaceX a Baa1 long-term issuer rating with a stable outlook. In its report, the agency pointed to the firm's "exceptional franchise strength" as the world's leading orbital launch provider and operator of Starlink, the largest low Earth orbit satellite broadband network.
The rating is also slightly higher than Tesla's Baa3. Reacting to the news in a reply on social media, Elon Musk wrote: "Tesla’s credit rating is ridiculously low to be honest."
According to Moody's, Starlink has become SpaceX's primary cash flow generator, underpinning improving scale, wider margins and a gradual shift away from more cyclical launch revenue.
