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发帖数: 2047 | 1 Tesla Bonds Are in Free Fall m
After a spate of fresh setbacks in the past week, including a fatal Tesla
crash and a credit-rating downgrade, bondholders are asking hard questions
about whether Musk can deliver on his bold promise to bring electric cars to
the masses before the company runs out of cash.
On Wednesday, Tesla’s notes plunged to a low of 86 cents on the dollar, the
clearest sign yet creditors aren’t totally sure the company will be money
good.
Tesla will report first-quarter production figures for the Model 3 early
next week.
To Diamond Hill’s Zox, who didn’t buy Tesla’s bonds last year, yields are
still too low to offset the risks of lending to a business in its early
growth phase.
And with a junk rating of Caa1 from Moody’s on Tesla’s unsecured bonds (
seven levels below investment grade), coming back to the market might prove
to be too onerous in any case, says Bloomberg Intelligence’s Joel Levington
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