Fitch: Assigns a "BBB+" rating to SpaceX's proposed issuance of senior unsecured bonds

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BlockBeats News, June 22 — Fitch has rated the proposed senior unsecured bonds of SpaceX (SPCX.O) as "BBB+".

SpaceX announced today the first issuance of investment-grade bonds, which is expected to be the start of a large-scale financing wave to support its artificial intelligence vision following a record-breaking $75 billion IPO. SpaceX's filing states that it has initiated the issuance of its first senior unsecured notes, "subject to market conditions and other factors." The document further explains that these notes will be unsecured debt of SpaceX, ranking equally with all existing and future non-subordinated debt, liabilities, and other obligations in terms of payment priority.

Last week, SpaceX sought to raise at least $20 billion through this issuance. The funds will be used to repay a roughly equivalent bridge loan, which accounts for the majority of SpaceX's $29.1 billion in long-term debt.

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