Anthropic, which sells the Claude AI assistant, coding tools and developer access, received a BB+ issuer rating from Kroll Bond Rating Agency in June, a previously unreported assessment disclosed Friday. The Financial Times reported the rating from documents it reviewed, according to an account relayed by The Deep Dive. BB+ sits one notch below investment grade, at the top of the speculative-grade tier; the disclosure was not a downgrade.
The score was tied to the $35 billion chip-financing transaction announced in June. Axios reported that the loan would help Anthropic lease Google chips developed with Broadcom through Fluidstack data centers. Most of the package benefited from a Broadcom guarantee, while $4.4 billion of junior debt depended more directly on Anthropic's credit, according to the relayed FT report. KBRA also rated that junior tranche BB+ with a stable outlook.
Customers use Claude as a chat assistant, Claude Code for software work, Cowork for broader knowledge tasks and the API inside their own applications. Anthropic's current Enterprise plan combines a seat fee with usage billed separately at API rates. Workplace connectors can bring information from services including Google Drive, Microsoft 365, GitHub and Slack into Claude.
That business is already large by Anthropic's own account: the company said in April that run-rate revenue had passed $30 billion, up from approximately $9 billion at the end of 2025, and that more than 1,000 business customers each represented over $1 million in annualized spending. Yet the relayed FT account said KBRA did not receive free-cash-flow or EBITDA figures. Its analysts estimated missing measures and used a risk-scoring method rather than a full financial model.
The credit benchmark arrives as structured financing expands. The Deep Dive relayed Bloomberg's October 2 report that banks were assembling another $60 billion chip-financing package, including a proposed $18 billion junior tranche. The June rating does not establish how that proposed debt will be graded, but it gives lenders a disclosed reference for Anthropic's standalone credit.