-- S&P Global Ratings upgraded Uber Technologies Inc.’s credit ratings to investment-grade status on Friday, citing the ride-hailing and food-delivery company’s consistent earnings growth.Uber’s main bond ratings were upgraded to BBB-, the lowest investment-grade level, from BB+, the highest junk grade, S&P said in a statement.
Uber’s financial discipline and its cash flow puts it in a good position to use capital for acquisitions and to otherwise boost shareholder returns, S&P said. As of the end of June, Uber had about $11.1 billion of short- and long-term debt, including bonds and lease liabilities, according to data compiled by Bloomberg.Surgeons Cut a Giant Tumor Out of My Head. Is There a Better Way?Dirt track racer Scott Bloomquist, known for winning and swagger, dies in plane crash