Anthropic: Blackstone Anticipates a BB Rating After IPO

Blackstone expects a speculative credit rating in the double B range for Anthropic following its IPO. Such a rating would increase the cost of debt as the company has ramped up its commitments to computing power over the past 12 months. Anthropic filed its IPO application earlier this week.

Potentially Higher Financing Costs Amid Rising Expenses

A high rating in the speculative category would complicate and raise costs for Anthropic in raising funds to finance its operations. This situation comes as the company has multiplied its computing power contracts over the past 12 months. The scale of these commitments has raised concerns among investors.

Blackstone Now Anticipates Double B After the IPO

Blackstone has informed investors that it expects Anthropic to receive a credit rating in the double B range, the upper level of the speculative category, after its public offering. This forecast differs from its previous stance, which anticipated an investment-grade rating before 2027. This is a projection from Blackstone and not a formal assessment by a rating agency. Both Anthropic and Blackstone declined to comment.

Context: A $63 Billion Deal and an IPO Filing Submitted

Blackstone is the lead investor in a recent $63 billion deal aimed at financing chips for Anthropic. Additionally, Anthropic officially submitted its IPO application earlier this week, sparking speculation about the implications of this move for the AI sector.