Add as a preferred source on GoogleAnthropic Gets Its First BB+ Rating at Top of Speculative Grade
The rating covered about $4.4 billion in subordinated debt in a $35 billion package. The debt carried a yield of about 8.5%.
Anthropic received its first credit rating at BB+, putting the AI company at the top of speculative grade and one notch below investment grade, in a rating tied to a chip-financing package.
Kroll Bond Rating Agency (KBRA) assigned the issuer rating in June and gave it a stable outlook. The rating covered about $4.4 billion in subordinated debt within a $35 billion package. The subordinated debt carried a yield of about 8.5%, while the package’s senior debt had a 5.75% rate.
KBRA lacked free cash flow and EBITDA figures amid limited disclosure and used a risk-scoring approach instead of a full financial model. Anthropic had no debt on its own balance sheet as of June 30.
Moody’s, S&P and Fitch are expected to determine Anthropic’s formal ratings after it goes public.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.