Anthropic is expected to receive a "high" junk credit rating from rating agencies following its IPO, according to the Financial Times. Blackstone, the anchor investor in a recent $63 billion chip financing deal for Anthropic, told investors in that deal it now expects the AI lab to get a double-B range rating, the top tier of speculative grade debt.
Blackstone had previously told investors it expected Anthropic to achieve an investment-grade rating before 2027. The shift in forecast reflects changed expectations about the company's creditworthiness.
A junk rating would make it more expensive and difficult for Anthropic to raise capital for its large spending commitments. The company has signed major compute power deals over the past 12 months, spending that has concerned investors.
Anthropic filed to go public earlier this week. Both Anthropic and Blackstone declined to comment on the FT report.