Shares of Tesla (NASDAQ: TSLA) jumped on Tuesday morning, climbing as much as 5.2%. As of 10:59 a.m. ET today, the stock was still up 4.4%.

The catalysts that sent the electric vehicle (EV) maker higher were a boost to its credit rating and evidence of a booming business in one of its largest markets.

Moody's Investors Service gave the stock a boost after the market closed on Monday, lifting its credit rating from junk status. It upgraded Tesla's debt to Baa3, which is the lowest level of investment-grade debt.

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Source Fool.com