Blackstone Lowers Expectations for Anthropic’s Credit Rating to Junk Status
Blackstone, the $9 billion investor in Anthropic, has reversed its earlier forecast that the AI firm would secure an investment‑grade rating by year‑end. The change follows a June BB+ rating from Kroll Bond Rating Agency, just below the BBB‑pass mark. Anthropic’s planned $800 billion compute expansion relies on borrowing costs tied to its credit rating; a junk rating would raise interest rates and limit lenders, especially pension funds and insurers that face junk‑debt caps. The company holds over $112 billion in cash and expects to raise roughly $100 billion more in its upcoming IPO, but the credit outlook remains uncertain until the final agency decisions post‑debut. Reason: The downgrade signals higher borrowing costs for a major AI player, affecting the broader AI funding landscape and the cost of capital for tech firms seeking large-scale investments.