3/20, 10:00 PM (Source: TeleTrader)
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Moody's assigns Baa3 rating to Tesla, sees outlook as 'stable'

Moody's Investors Service said Monday that it had assigned a Baa3 long-term issuer rating to Tesla, stressing the "stable" outlook of the company. According to the rating service, the automaker will keep its position as one of the leading manufacturers of electric vehicles "as the company further solidifies its global footprint."

In addition, Moody's expects that Tesla will deliver about 1.8 million vehicles in 2023, a 34% gain from the 1.3 million cars it delivered in 2022 and nearly double the shipments of 2021. Significant investments in new car and battery cell manufacturing facilities will allow a strong increase in deliveries.

"The stable outlook reflects Moody's expectation that Tesla will continue to capitalize on robust growth in global demand for battery electric vehicles but in an increasingly competitive environment. Further, Moody's anticipates Tesla will maintain an industry leading EBITA margin in the next 12 months, albeit still largely reliant on only two models," Moody's said.

Baha Breaking News (BBN) / JG