"SpaceX reportedly received investment-grade ratings from three major bond rating agencies."

According to sources familiar with the matter, Elon Musk's SpaceX has informed investors that the company has received investment-grade ratings from three major bond rating agencies, which could help lower costs for SpaceX when it continues to raise funds after its IPO. SpaceX is expected to raise approximately $7.5 billion through its initial public offering. The company is set to price on Thursday and begin trading the next day. Bond market participants have begun to pay attention to SpaceX's next steps, particularly the possibility of entering the investment-grade bond market for financing. CreditSights analysts said this week that they expect SpaceX to issue bonds shortly after the IPO. According to the prospectus submitted to the U.S. Securities and Exchange Commission, as of March 31, SpaceX had $29.1 billion in long-term debt, with most of it being a $20 billion bridge loan due in September 2027. It is currently unclear what specific type of investment-grade ratings SpaceX has received, such as whether they only apply to secured debt. Sources said that Moody's, Fitch, and Standard & Poor's have all given SpaceX investment-grade ratings.