Moody's expects Tesla to stay at EV leader spot, upgrades to 'Ba1'

Moody's expects Tesla to stay at EV leader spot, upgrades to 'Ba1'

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1/25/2022 6:40:00 AM

Moody's expects Tesla to stay at EV leader spot, upgrades to 'Ba1'

Moody's upgraded Tesla Inc's debt rating by two notches to 'Ba1' from 'Ba3' on Monday, reflecting the ratings agency's expectations that the Elon Musk-led company will maintain its position as the leading battery electric vehicle manufacturer.

1 minute readA Tesla logo on a Model S is photographed inside of a Tesla dealership in New York, U.S., April 29, 2016. REUTERS/Lucas Jackson/File PhotoJan 24 (Reuters) - Moody's upgraded Tesla Inc's(TSLA.O)debt rating by two notches to "Ba1" from "Ba3" on Monday, reflecting the ratings agency's expectations that the Elon Musk-led company will maintain its position as the leading battery electric vehicle manufacturer.

Moody's affirmed in a note that Tesla's outlook remains positive and the company will continue to increase its scale rapidly and improve its profitability notably.Tesla's financial policy is likely to be prudent and liquidity would remain very good, Moody's said, adding that a more competitive offering of battery electric vehicles by other automakers could start to exert some pressure on the company's margins in 2023.

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Reuters 1 minute read A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York, U.S., April 29, 2016. REUTERS/Lucas Jackson/File Photo Jan 24 (Reuters) - Moody's upgraded Tesla Inc's (TSLA.O) debt rating by two notches to "Ba1" from "Ba3" on Monday, reflecting the ratings agency's expectations that the Elon Musk-led company will maintain its position as the leading battery electric vehicle manufacturer. Moody's affirmed in a note that Tesla's outlook remains positive and the company will continue to increase its scale rapidly and improve its profitability notably. Tesla's financial policy is likely to be prudent and liquidity would remain very good, Moody's said, adding that a more competitive offering of battery electric vehicles by other automakers could start to exert some pressure on the company's margins in 2023. In January, Tesla reported record quarterly deliveries that far exceeded Wall Street estimates, riding out global chip shortages as it ramped up China production. It was the sixth consecutive quarter that the world's most valuable automaker posted record deliveries. The ratings agency also anticipated that Tesla will deliver nearly 1.4 million vehicles in 2022, up from about 936,000 in 2021. Register now for FREE unlimited access to Reuters.com Register Reporting by Akriti Sharma in Bengaluru; Editing by Sherry Jacob-Phillips and Rashmi Aich Our Standards: More from Reuters Daily Briefing Subscribe to our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox. Sign up