Moody’s rates Tencent, notes A+

Fitch Ratings said it published Tencent Holdings Ltd.’s long-term foreign-currency issuer default rating and foreign-currency senior unsecured class rating at A+.

Fitch also said it assigned senior unsecured ratings of A+ to Tencent’s existing global medium-term note program and all its outstanding senior unsecured notes.

The outlook is stable.

The ratings reflect Tencent’s leading market position in social networking, social media and online games in China, the agency said.

It also is the largest online display advertising company in China, Fitch said.

As China’s leading social and entertainment platform, Tencent possesses strong competitive advantages, including a large and highly engaged user base with significant network effect, diversified products and services that exhibit strong synergy, leadership in technology and service innovation, the agency said.

The ratings also consider a belief that Tencent has built a vibrant ecosystem that will strengthen user stickiness, reinforce Tencent’s platform leadership and brands and increase the company’s business opportunities, Moody’s said.

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