Credit markets have priced the five-year default risk for SoftBank at a range of 30% to 33%. This assessment follows a rise in credit default swap spreads to between 457 and 466 basis points as of November 6, 2026.
SoftBank has committed approximately $64.6 billion to OpenAI for a 13% stake. To finance this, the company sold $11.1 billion in high-yield bonds in September 2026, with interest rates reaching 9.75%.
The company utilizes its 90% stake in Arm as collateral for margin loans totaling around $25 billion. On November 6, 2026, SoftBank shares declined by more than 10% amid concerns regarding AI sector sentiment.
Fitch assigned SoftBank a BB+ long-term issuer rating on September 11, 2026. Meanwhile, S&P maintains a negative outlook, citing liquidity challenges linked to the OpenAI investment and the delay of its IPO to 2027.
