Tesla seems to continue to maintain its top position.
Rating agency Moody’s upgraded Tesla Inc’s rating from ‘Ba3’ to ‘Ba1’.
This indirectly reflects the rating agency's expectations of Elon Musk's company in maintaining its position as a leader in electric car (EV) production.
The note issued by the agency reinforces Tesla’s positive outlook and the company will continue to scale its operations as well as increase profits.
He added that Tesla's monetary policy will remain good and its liquidity level will continue to be smooth, adding that a more competitive EV battery electric vehicle offering will put pressure on the company's margins by 2023.
Last January, Tesla reported its quarterly record exceeding Wall Street expectations and overcoming global chip shortages as it boosted Chinese production.
In addition, the rating agency also expects Tesla to produce nearly 1.4 million cars in 2022 which saw an increase of 936,000 in 2021.
