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1 / 3Blackstone now expects Anthropic's credit to be rated junk after its IPO×

The new view

Blackstone has told investors in the $63 billion chip-financing deal it anchored for Anthropic that it now expects a double-B rating once Anthropic lists, the top tier of speculative grade, the Financial Times reported Friday.

The step down

Blackstone had previously expected Anthropic to reach investment grade before 2027.

Anthropic and Blackstone declined to comment.

What it costs

A double-B rating does not stop Anthropic borrowing, but it raises the price of every dollar it borrows, for a company that has signed some of the largest compute contracts in the industry this year.

It arrives in the same week S&P put Meta, an AA- credit, on negative outlook for its spending.

Sources and the full story

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Blackstone now expects Anthropic's credit to be rated junk after its IPO

Blackstone has told investors in the $63 billion chip-financing deal it anchored for Anthropic that it now expects a double-B rating once Anthropic lists, the top tier of speculative grade, the Financial Times reported Friday. Blackstone had previously expected Anthropic to reach investment grade before 2027. Anthropic and Blackstone declined to comment.

A double-B rating does not stop Anthropic borrowing, but it raises the price of every dollar it borrows, for a company that has signed some of the largest compute contracts in the industry this year. It arrives in the same week S&P put Meta, an AA- credit, on negative outlook for its spending. SourcesB

Sources

• BAnthropic expected to receive high junk rating from credit agencies following IPO, report says (TechCrunch)techcrunch.com

This story ran in the Afternoon Brief of October 31st 2026.