Moody's upgrades Tesla's rating to Ba1, says outlook positive


FILE PHOTO: A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York, U.S., April 29, 2016. REUTERS/Lucas Jackson/File Photo

(Reuters) - Moody's upgraded Tesla Inc's debt rating by two notches to Ba1 from Ba3 on Monday, reflecting the ratings agency's expectations that Tesla will maintain its position as the leading manufacturer of battery electric vehicles.

Tesla will continue to increase its scale rapidly and improve its profitability notably, the rating agency added.

(Reporting by Akriti Sharma in Bengaluru; Editing by Sherry Jacob-Phillips)

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