[island911]

Today

Tesla shares fall after Moody's downgrades credit rating

Moody's lowered its corporate family rating on Tesla to B3 from B2 and changed the outlook to negative from stable.

"Tesla's ratings reflect the significant shortfall in the production rate of the company's Model 3 electric vehicle," Moody's said in a release.

The price on Tesla's eight-year junk bond, which matures in 2025, fell to its lowest since it was issued in August. It hit 90.8 cents late Tuesday afternoon just ahead of the Moody's announcement, according to IHS Markit.

Evelyn Cheng | @chengevelyn

full article https://www.cnbc.com/2018/03/27/moodys-downgrades-tesla-credit-rating-on-model-3-production-delays.html