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Blackstone sees BB-range rating for Anthropic, FT says

New Street Desk ·

New Street Spotlight card, labeled Developing. Headline: Blackstone sees BB-range rating for Anthropic, FT says. Per the FT, Blackstone sees a post-IPO junk rating as likelier than investment grade, and Fitch, Moody's and S&P have not yet rated Anthropic. It is Blackstone's expectation, not a rating action. Key points: The FT said Blackstone earlier signaled investment grade; it now sees BB range or higher, citing guidance from major agencies; Per the FT, KBRA (BB+) and Morningstar DBRS (BB) rated the $18B North Star junior debt backed by Anthropic's lease payments; New Street has not seen Blackstone's note. Anthropic filed its IPO S-1 on Oct. 26; watch for ratings from major agencies. Sources: Financial Times; SEC EDGAR; Valor Econômico.

Per the FT, Blackstone sees a post-IPO junk rating as likelier than investment grade, and Fitch, Moody’s and S&P have not yet rated Anthropic. It is Blackstone’s expectation, not a rating action.[1][3]

The FT said Blackstone earlier signaled investment grade; it now sees BB range or higher, citing guidance from major agencies.[1][3]

Per the FT, KBRA (BB+) and Morningstar DBRS (BB) rated the $18B North Star junior debt backed by Anthropic’s lease payments.[1][3]

New Street has not seen Blackstone’s note. Anthropic filed its IPO S-1 on Oct. 26; watch for ratings from major agencies.[2]

Sources

  1. Financial Times, Anthropic may not secure investment-grade rating after IPO, Blackstone tells investors
  2. SEC EDGAR, Anthropic, PBC Form S-1 registration statement
  3. Valor Econômico, FT article republished in Portuguese (reporting the FT)

How to cite: New Street Desk, "Blackstone sees BB-range rating for Anthropic, FT says," New Street, Oct. 30, 2026, https://newstreet.xyz/spotlight/2026-10-30-1430-anthropic-rating/.