Three of the world’s top credit rating agencies have given SpaceX their investment-grade stamp of approval, each attaching a “stable” outlook to the Elon Musk-led aerospace company following its widely watched initial public offering.
Moody’s assigned SpaceX a “Baa1” rating, Fitch came in with a “BBB+,” and S&P Global Ratings issued a “BBB.” All three designations place SpaceX’s debt in investment-grade territory, which generally means the company carries moderate credit risk and has enough financial capacity to meet its obligations.
The uniform positive assessments reflect widespread confidence in SpaceX’s financial footing as it pursues an aggressive and expensive expansion into artificial intelligence amid stiff competition in that sector.
Despite the favorable ratings news, SpaceX shares dipped 1.1% in after-hours trading Thursday, following a nearly 4% decline during the regular trading session.
The company’s market valuation climbed above $2 trillion after its blockbuster debut on the Nasdaq exchange last week. Shares surged during the first two days of trading before pulling back as investors began weighing whether the company’s lofty valuation holds up against the heavy costs tied to its AI ambitions.
S&P noted that while it views SpaceX’s space and connectivity operations as strong performers, the AI division introduces uncertainty given its significant capital requirements and the crowded competitive landscape it faces.
