S&P Global Ratings awards SpaceX BBB issuer credit rating with stable outlook

S&P Global Ratings has awarded SpaceX a BBB issuer credit rating with a stable outlook, citing the robust performance of SpaceX's launch and interconnection businesses, but offset by huge capital demands and uncertainty in its artificial intelligence business. S&P expects SpaceX to maintain an adjusted leverage ratio below 2.0 times by 2029, with the leverage ratio expected to peak in 2028. The adjusted leverage ratio of S&P Global Ratings will reach 1.2 times, but as SpaceX's interconnection business revenue and profitability increase and it begins to monetize its artificial intelligence business, the leverage ratio will improve year by year thereafter.