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Anthropic expected to receive high ‘junk’ rating from credit agencies following IPO, FT report says
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Anthropic is expected to receive a high “junk” credit rating after its initial public offering, according to a Financial Times report. Blackstone, an anchor investor in a $63 billion deal financing Anthropic’s chips, told investors it anticipates a speculative-grade rating for the AI lab. The prediction signals financing pressure for one of the AI industry’s most closely watched companies.
The forecast follows Anthropic’s official filing to go public earlier this week. The IPO filing has triggered speculation about how the offering could affect the broader AI sector and its capital-intensive players. Anthropic, maker of the Claude chatbot, has not publicly commented on the reported rating expectation.
Blackstone now expects Anthropic to land in the double-B range, the top tier of “junk” status, the FT reported. TechCrunch said both Anthropic and Blackstone declined to comment. The rating is only a prediction, but it contrasts with Blackstone’s earlier guidance.
Previously, Blackstone had told investors it expected Anthropic to secure an investment-grade rating before 2027. Investment-grade status generally indicates lower risk for lenders. A shift to double-B would instead place Anthropic in speculative territory.
A high junk rating would make borrowing more difficult and more expensive for Anthropic. The company has been spending heavily to secure compute power and support its business. Those costs have already drawn investor scrutiny.
Over the past 12 months, Anthropic has accumulated large compute deals as it races to train and run advanced AI models. Such spending is central to its growth but adds balance-sheet risk. The reported rating outlook underscores how credit agencies may view that trade-off.
The IPO and rating debate arrive as AI companies face questions about funding needs and returns. A high junk rating could raise Anthropic’s financing costs as it seeks public capital. The final rating will depend on credit agencies’ post-IPO assessments.
