Rating Agencies Upgrade Bending Spoons Following Successful Acquisitions

Key Facts

In a move that underscores the strengthening credit profiles of high-growth software firms, both Moody's and S&P Global Ratings have upgraded Bending Spoons' credit outlook. The dual upgrades are primarily driven by the company's significant scale growth and expanded operational footprint following recent strategic moves. According to reports, this rating momentum follows a period of rapid expansion, most notably highlighted by the successful integration of the Miro platform.

The rating actions follow the company's $1.4 billion acquisition of Miro, a transaction that has substantially increased its market presence and cash flow stability. While the ratings, including Moody's upgrade to Ba3, remain within the non-investment grade category, they signal improved financial resilience and better access to capital markets. Per market data, the consensus among major agencies reflects growing confidence in the company's ability to leverage its increased scale after major capital deployments.

Regarding market performance, BSP was priced at $36.17 (close September 22, 2026), as investors monitor the company's execution in a tighter credit environment. Market participants are watching how these improved ratings will mitigate borrowing costs, particularly following the Fed's decision on September 16, 2026, to raise interest rates to 4%, which remains a critical factor for technology issuers navigating the current macro landscape.