SpaceX: Disruption potential and growth across technology and connectivity
SpaceX recently completed its initial public offering and launched an inaugural bond offering. Join our analysts for an in-depth discussion on the critical factors driving SpaceX’s ratings, the strategic implications of its AI and Starlink growth initiatives, and the broader competitive dynamics reshaping the telecommunications industry.
Discussion topics include:
- What are the major rating drivers for SpaceX?
- What are the key execution risks and how can they manage these risks?
- How do Starlink and Starlink Mobile pose competitive threats to the telecommunications sector, and what could this mean for industry incumbents?
- What is the growth trajectory of SpaceX’s AI initiatives, and how does its capital expenditure strategy support this vision?
Speakers
Lenny Ajzenman
Associate Managing Director, Corporate Finance
Moody's Ratings
Ernesto Bisagno
Vice President - Senior Credit Officer, Corporate Finance Group
Moody’s Ratings
Neil Mack
Vice President - Senior Analyst, Corporate Finance Group
Moody's Ratings
Sean Cray
Vice President - Senior Analyst
Moody's Ratings
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Lenny Ajzenman is an Associate Managing Director with Moody’s Ratings, and co-heads the Technology, Media and Telecom Team within U.S. Corporate Finance. Prior to his current position, Lenny chaired rating committees for companies across a variety of industry sectors and covered a portfolio of investment and speculative grade business and consumer services companies. Lenny was instrumental in the development and rollout of Moody’s Probability of Default Ratings and Loss Given Default Assessments for speculative grade issuers and has published frequently on leveraged finance topics.
Prior to joining Moody’s in June 2004, Lenny was Vice President and Controller at MacAndrews & Forbes Group Inc. In addition, Lenny was a manager in the mergers and acquisitions and audit departments of Deloitte & Touche. Lenny holds a BBA from Baruch College and an M.B.A. from NYU Stern School of Business.
Ernesto Bisagno is a Vice President – Sr Credit Officer in Moody’s Corporate Finance Group. Ernesto is the EMEA tobacco analyst and also covers the EMEA food, consumer goods and retail sectors.
Ernesto joined Moody’s in June 2014 with an extensive professional experience in risk management and credit analysis in several leading financial institutions in the UK and Italy, most recently with Citigroup and UBS where he covered energy, metals, mining and chemicals across Western Europe and the UK.
Ernesto was also a senior auditor with PWC earlier in his career. Ernesto holds an Economics degree from Università degli Studi di Genova and is also a CFA Charter Holder.
Neil Mack is a Vice President - Senior Analyst on Moody’s Telecommunications/MediaTeam covering a portfolio of investment grade and high yield telecommunicationscompanies. Prior to joining Moody’s in 2017 he held various positions in fixed incomeasset management, including at Citigroup Asset Management, Bear Stearns,AllianceBernstein and PartnerRe Asset Management.Neil is a CFA charterholder and a member of the New York Society of SecurityAnalysts. He received his MBA in Finance from Columbia University and BA in Englishfrom Fordham University.
Sean Cray is a Vice President - Senior Analyst on the Technology, Media & Technology team within the US Corporate Finance Group. Sean covers a diverse portfolio of issuers across the software, digital infrastructure, and telecom sectors. He is also part of Moody’s North America data centers working group. Prior to joining the TMT team in 2024, Sean covered investment grade and speculative grade issuers throughout the business and consumer services, gaming, and consumer products industries. Prior to joining Moody’s in 2008, Sean worked as a financial analyst at AIG.
Sean holds a Bachelor of Science degree in Finance from Rutgers University.