Sky Protocol Secures Moody’s B3 Rating in Industry First

The dual-agency assessment provides institutional allocators with a standardized framework to evaluate Sky Protocol’s credit profile. Moody’s and S&P Global conducted independent reviews, focusing on the protocol’s governance and its Treasury Management Function. A core component of the evaluation was the level of Sky Reserves, which the protocol is actively bolstering through a Stage 2 buyback framework that retains a portion of Net Protocol Revenue.

Greg Feibus, Global Head of Capital Markets at the Sky Frontier Foundation, noted that these ratings allow traditional institutional investors to analyze the protocol using familiar market metrics. While the current ratings reflect the protocol's present standing, both agencies have outlined specific pathways for potential upgrades. Sky Governance is now reviewing these criteria as part of its long-term objective to achieve an investment-grade rating by strengthening capital ratios over time.