Moody's lifts Tencent, debt to A3

Moody's Investors Service said it upgraded Tencent Holdings Ltd.'s issuer and senior unsecured debt ratings to A3 from Baa1.

The outlook is stable.

"The upgrade reflects that Tencent has established a strong track record of revenue growth supported by its large and sticky user base. We believe the company will be able to sustain a steady growth trajectory in revenue and cash flow, given its competitive business model," Moody's vice president and senior analyst Lina Choi said in a news release.

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