S&P rates Tencent notes BBB+

Standard & Poor's said it assigned its BBB+ rating to the proposed issue of senior unsecured offshore notes by Tencent Holdings Ltd.

The agency said it also assigned its Greater China regional credit scale rating of cnA+ to the proposed issue.

The rating on the company reflects S&P's view that the company will retain its strong user base in instant messaging and social networking services in the country. The favorable growth prospects of China's internet industry and the company's sound financial standing further support the rating, the agency said.

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