S&P Global Ratings raised its ratings on Tesla, including our issuer credit rating and issue-level ratings, to “BBB” from “BB+.” Tesla’s reported production and deliveries for the nine months ended September 30 were higher than expectations and the ramp-up in its global capacity appears on track to “meet the strong demand for its products into 2023,” S&P said in a statement. The firm now views Tesla’s credit profile more favorably saying the company continues to demonstrate market leadership in electric vehicles, with “solid manufacturing efficiency that supports strong EBITDA margins and sustained positive free operating cash flow.” S&P adds that its “stable outlook” reflects expectations that Tesla will maintain low debt levels.