Moody’s assigns Weibo bond Baa1

Moody’s Investors Service said it assigned a Baa1 senior unsecured rating to Weibo Corp.’s proposed bond.

The proceeds will be used for general corporate purposes.

“The proposed bond will enhance Weibo’s already strong liquidity, provide financial flexibility amid a more challenging operating environment as China’s GDP growth slows, and secure long-term funding for refinancing and business expansion,” said Lina Choi, a Moody’s senior vice president, in a press release.

The outlook is stable.

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