Moody's assigns A1 to Tencent notes

Moody's Investors Service said it assigned an A1 senior unsecured rating to Tencent Holdings Ltd.’s proposed medium-term notes drawn under its global program.

"The proposed notes will strengthen Tencent's already strong liquidity position and support steady growth in revenue and cash flow," said Lina Choi, a Moody's senior vice president and lead analyst for Tencent, in a press release.

"Moreover, the company has maintained its prudent financial discipline and solid credit profile while expanding its businesses. The proposed drawdown will have a limited impact on its low leverage, which is appropriate for its A1 ratings," adds Choi,

The proceeds will be used for general corporate purposes.

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