Fitch rates Baidu notes A

Fitch Ratings said it assigned Baidu Inc. long-term foreign-currency and local-currency issuer default ratings of A. The outlook is stable.

The agency said it also assigned Baidu's proposed U.S. dollar senior notes an expected rating of A.

Fitch said the ratings reflect Baidu's dominance in the internet search market in China with an over 85% traffic market share. The ratings also benefit from the company's strong profitability and balance sheet, reflecting its ability to monetize internet traffic.

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