S&P Global raisedUber Technologies Inc's(NYSE:UBER) credit rating to BBB- from BB+ on Friday evening after the market close.
The company's share price is up by 25% in the past two weeks after stronger-than-expected earnings results earlier this month.
For the ride-hailing giant, recent successes may trace back to a series of cost-cutting decisions initiated in mid-2022.
S&P's Upgrade
The upgrade by S&P Global, which is one of the "Big Three" credit rating agencies, puts Uber back in the investment-grade category.
BBB- is the lowest investment-grade rating...
Login or create a forever free account to read this news
Sign up/Log in