KBRA assigns Anthropic BB+ credit rating ahead of $35B debt deal
Anthropic received a BB+ credit rating from Kroll Bond Rating Agency (KBRA) in June 2026, the highest speculative-grade score, one notch below investment grade. The rating follows a $35 billion financing transaction led by Apollo Global Management, with BlackRock participating, to support Broadcom’s AI chip platform. Roughly $4.4 billion of the deal is subordinated debt, yielding 8.5%, while…
Key points
- KBRA assigns Anthropic a BB+ rating, one notch below investment grade, based on partial financial disclosures
- $35B financing deal led by Apollo Global Management includes $4.4B subordinated debt yielding 8.5%
- Anthropic’s Q3 revenue hit $16.8B, up 46% from Q2, with two quarters of adjusted profitability
KBRA assigned the rating with limited financial disclosures from Anthropic. The company shared revenue figures but omitted key metrics like free cash flow and EBITDA. KBRA relied on an internal credit risk scoring system, flagging moderate risk with potential for improvement as disclosures expand. Recent results contradict the cautious rating: Q2 revenue hit $11.5 billion, and Q3 revenue surged to $16.8 billion, a 46% quarter-over-quarter increase, with two consecutive quarters of adjusted profitability. Investment-grade status remains the goal, as it would unlock access to institutional investors and lower borrowing costs, particularly ahead of potential IPO speculation.
The story so far
2 episodes →- KBRA assigns Anthropic BB+ credit rating ahead of $35B debt dealthis story
Anthropic lands BB+ credit rating from KBRA, one notch below investment grade
cryptobriefing.com · 16 October 2026
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2sources- Anthropic gets BB+ rating as Wall Street plans $60B AI financingPress · cryptobriefing.com ·
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