ANTHROPIC EXPECTED TO GET DOUBLE-B CREDIT RATING AFTER IPO, BLACKSTONE TELLS INVESTORS Blackstone $BX has told investors Anthropic is likely to receive a credit rating in the double-B range after going public, below investment grade. It had earlier expected an investment-grade rating by year-end. Moody's, S&P and Fitch have not yet formally issued ratings. Blackstone is participating in Anthropic's $63B financing deal, Project North Star, which supports the leasing of 1.5 GW of Google's AI chips: • More than $42B in senior loans guaranteed by Broadcom $AVGO • $18B in junior debt backed by Anthropic's lease payments • Blackstone's funds invested $9B in junior debt, earning yields above 10% Anthropic's IPO prospectus outlines plans to spend more than $800B on computing infrastructure through 2045. Per FT.