The new fundraising brings the NBA’s total debt to at least $7.4 billion, per information disclosed by the ratings agency. To put that in perspective, the entire league is worth $77.5 billion, according to Sportico’s latest NBA franchise valuations. The NBA debt is rated at A-minus with a stable outlook, which is investment grade with a low risk of default. The debt is given a rating because most institutional investors who would be buyers of the NBA notes have requirements to stay within certain risk and credit quality parameters.