On Thursday, SpaceX secured investment-grade credit ratings by all three leading agencies following its record stock market debut, though freshly traded shares plummeted rapidly.

Elon Musk’s aerospace giant secured first-time ratings from Moody’s, Fitch and S&P Global-a significant milestone that places its debt firmly in investment-grade territory and lowers its borrowing costs as it funds vast expansion.

In line with the report, the agency indicated the firm’s exceptional franchise strength as the world's leading space transportation company and operator of Starlink-the largest low Earth orbit satellite constellation.

The agency underlines the company’s dependence on the next-generation Starship V3 Vehicle, warning that technical snag delays could put pressure on the sustained business expansion.

Meanwhile Moody’s still anticipates substantial income through 2028 driven mainly by Starlink, which counted 12 million subscribers as of early June.

Notably, after an expected watershed moment for the aerospace giant, SpaceX closed at $185 more than 18%-down more than 18% from Tuesday high of $225.6. It has been observed that as investors evaluated whether the company’s excessive valuation had become unsustainable, the shares plummeted as low as $172 during the trading session before paring losses.

Last week, the shares of the Elon-Musk owned company SpaceX significantly rose more than 10 percent in premarket trading on Tuesday.

This major surge puts the company on track to surpass Amazon in market value to become the world’s fifth-largest company, extending its post-IPO rally.

SpaceX presents a myriad of risks to those who buy its public stock; meanwhile weak corporate governance is entirely in Musk's control, as well as hard to evaluate goals such as colonizing Mars, and putting data centers in space.

It is pertinent to mention here that SpaceX stands among the foremost industry giants on the planet.