Fitch rates Tesla at BBB with a stable outlook

Fitch Ratings assigned Tesla a first-time Long-Term Issuer Default Rating of BBB with a stable outlook on September 21, 2026. The investment-grade rating places the electric vehicle maker firmly among creditworthy corporate issuers.

Tesla shares rose 0.7% to $377.87 in pre-market trading on September 22, 2026, building on a 3.0% gain during the previous regular trading session. Broad market benchmarks also moved higher, with S&P 500 futures up 0.1% and Dow Jones Industrial Average futures climbing 0.3%.

The agency pointed to substantial balance sheet liquidity. As of June 30, 2026, Tesla held $43.5 billion in cash and marketable securities against $2 million in recourse debt and $6.0 billion in non-recourse and non-asset-backed debt.

Fitch projects full-year capital expenditures of $25 billion for 2026, up from $9 billion in 2025. This elevated spending is expected to create a projected net cash outflow that exceeds operating cash flow generation by $10 billion. The rating agency also noted plans for opportunistic debt facility capacity of up to $30 billion in 2026.