S&P gives Weibo notes BBB

S&P said it assigned its BBB long-term issue rating to the senior unsecured notes proposed by Weibo Corp. S&P rates Weibo BBB.

The rating is the same as Weibo’s issuer rating, reflecting the low debt leverage of both Weibo and its parent SINA Corp., the agency said.

“We expect the China-based social media platform to use the proceeds to support the development of its core business and for other general corporate purposes,” S&P said in a press release.

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