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- 29.05.2014 - Standard & Poor's downgraded the rating of Tesla
29.05.2014 - Standard & Poor's downgraded the rating of Tesla
International rating agency Standard & Poor's has assigned a manufacturer of electric Tesla B- rating with a stable outlook. This rating indicates a high risk of default on debt obligations of the company.
Company issued unsecured notes in the amount of $ 920 million with maturity in 2019, and similar securities in the amount of $ 1.4 billion with maturity in 2021. Also last year, Tesla issued $ 660 million secured convertible Eurobonds maturing in 2018. In case of default, bondholders can expect for refund of 30% to 50% of the funds invested.
Despite this we maintain a long-term positive outlook for the company's shares in connection with the company's strong position on the market of electric cars and the prospect of growth in sales.