Follow-up reporting citing the Financial Times says Blackstone revised its expectation that Anthropic would achieve investment-grade credit before year-end, telling investors it could remain in the upper speculative BB range after going public. Blackstone is a key investor in a $63 billion chip-financing arrangement. A lower rating could affect financing costs and the institutions able to fund large compute commitments. This is a change in an investor’s forecast, not an official corporate rating or an IPO outcome. Ratings on particular project debt should also remain distinct from a company-wide rating.