Tesla Shares Jumped 3% in Morning Trading
Tiger Newspress2023-03-21
Tesla shares jumped 3% in morning trading. The electric-vehicle maker’s debt was upgraded by Moody’s to Baa3, its lowest level for investment grade, up one ratings notch from Ba1, the highest level of speculative grade, or so-called junk-rated debt.
“The rating action reflects Moody’s expectation that Tesla will remain one of the foremost manufacturers of battery electric vehicles with an expanding global presence and very high profitability,” Moody’s said in a statement.
It also was reported by the European Automobile Manufacturers Association that Tesla’s new car registrations in the European Union rose to 19,249 in February from 12,860 a year earlier.
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