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Blackstone expects Anthropic may receive a relatively high junk rating after its IPO

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According to the Financial Times, private equity giant Blackstone told investors it expects Anthropic will not obtain an investment-grade credit rating after its IPO, but will instead be rated in the higher junk range, namely double-B (BB). Blackstone was an anchor investor in a recent $63 billion deal to finance Anthropic chips, and had previously said Anthropic would obtain an investment-grade rating by 2027; its expectation has now shifted. TechCrunch sought confirmation from Anthropic and Blackstone, and both declined to comment.

Generated by AI from reports · Updated 3 days ago

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Oct 31
  1. TechCrunch AI
    FT reports that Anthropic is expected to receive a higher junk-grade credit rating after its IPO

    According to a Financial Times report, Blackstone told investors it expects Anthropic to be rated at a higher junk grade by credit rating agencies after its IPO. Blackstone was an anchor investor in a recent $63 billion deal to finance Anthropic's chips, and it had previously said Anthropic would obtain an investment-grade rating by 2027; it now expects a double-B (BB) range, the highest tier of speculative junk ratings. TechCrunch sought confirmation from Anthropic and Blackstone, and both declined to comment. The report noted that a high junk rating would make it harder and more costly for Anthropic to raise financing to support its large-scale spending; over the past 12 months the company has signed several large compute deals, raising investor concerns. Anthropic formally filed for a listing earlier this week.

  2. Financial Times · AI
    Blackstone says Anthropic may be unable to obtain an investment-grade rating after its IPO

    Private equity giant Blackstone said Anthropic is expected to be unable to obtain an investment-grade credit rating after its IPO, and will instead receive a higher junk-grade rating, a shift from previous guidance.

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