S&P Affirms 'B-' Corp. Rating on Tesla (TSLA); New $500M Credit Line Should Protect Against Missteps, Inefficiencies

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Tesla's (TSLA) New Credit Agreement Alleviates Near-Term Cash Concerns - Dougherty

June 15, 2015 9:50 AM EDT

Dougherty maintained a Buy rating on Tesla Motors (NASDAQ: TSLA) with a price target of $355. After the market close on Friday, Tesla announced a $500 revolving credit agreement. The Company may increase the total commitments under the Credit Facility by up to an additional $250 million, subject to certain conditions, potentially increasing the Credit Facility to up to $750.0 million. In addition, the Credit Agreement provides for a $100.0 million letter of credit... More