SolarCity (NASDAQ:SCTY.DL) got the blessing of Standard & Poor's this week. The ratings agency said that SolarCity's recent bonds are reated at a BBB+, an investment grade rating. This should actually come as a surprise for some investors because it got that rating despite not having a long credit history and it got a better rating than some of the other utility giants such as Duke Energy (NYSE:DUK) and Exelon (NYSE:EXC).
So what does this rating actually mean for SolarCity? And how should investors interpret this news. Tune into the video below to learn why this decision could save SolarCity millions of dollars down the road, but isn't the sole reason you should invest in a company like SolarCity.
Fool contributor Aimee Duffy has no position in any stocks mentioned. Fool contributor Tyler Crowe owns shares of SolarCity. You can follow them on Twitter @TMFDuffy and @TylerCroweFool, respectively.
The Motley Fool recommends Exelon, SolarCity, and Southern Company. The Motley Fool owns shares of SolarCity. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.