The past few years have played a crucial role in Tesla’s history, turning the automaker from a struggling auto company with big dreams to a key player on Wall Street with a strong grasp on the electric vehicle industry. And now, one investment rating service has taken notice of Tesla’s shift, officially saying it’s a worthy consideration for investors.
Tesla was upgraded to investment-grade BBB status by S&P Global Ratings earlier this month, as reported by electrek. Before the change, Tesla was still considered a “junk bond” by S&P and other investment rating services, although the automaker delivered two years’ straight worth of profits with a cash position of more than $18 billion to date.
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