S&P rates Uber debt B, CCC+

S&P said it assigned a B- issuer credit rating to Uber Technologies Inc.

It is also assigning the B issue level rating and 2 recovery rating to Uber’s secured debt, and the CCC+ issue-level rating and 5 recovery rating to the unsecured debt.

The outlook is stable, S&P said, reflecting Uber’s “multiple sources of liquidity, including its balance sheet cash, revolving credit facility, equity investments, capacity to sell minority stakes in certain assets, and access to the capital markets.”

The company also has the flexibility to slow its discretionary investment spending in areas such as Uber Eats, autonomous vehicle research, and bikes and scooters, S&P said in a news release.

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