TechFlow News, June 19: S&P Global Ratings assigned SpaceX (SPCX.O) a BBB credit rating. S&P noted that SpaceX’s launch and connectivity businesses are performing solidly, but this strength is offset by substantial capital requirements and uncertainty surrounding its artificial intelligence business.
S&P stated: “This rating does not incorporate SpaceX’s long-term initiatives—including lunar landings, missions to Mars, building data centers in space, and constructing a large-scale semiconductor fabrication facility in Texas—because most of these plans remain unquantifiable and therefore fall outside the scope of our rating analysis. That said, we note that if these initiatives advance, they may necessitate long-term financing in the future.” S&P also assigned a stable outlook, projecting that despite SpaceX’s extensive investment plans, its adjusted leverage ratio will remain below 2.0x. (Jinshi)
