Elon Musk-loving stock traders are famously bullish on Tesla, the eighth most-valuable company in the world. Now credit-rating providers, playing catch-up, are giving heft to the carmaker’s blue-chip valuation.
On Monday, Moody’s Investors Service became the second credit ratings firm to endow Tesla with investment-grade status, upgrading the firm’s credit score by one notch to Baa3 on Monday. It follows a similar move by S&P Global Ratings in October.
