S&P rates Weibo notes BBB

S&P said it assigned a BBB long-term issuer credit rating to Weibo Corp. and the BBB long-term issue rating to the company's proposed senior unsecured notes.

Weibo is likely to remain one of the leading social media platforms in China with healthy growth and very low debt leverage over the next two years, S&P said.

The company's limited business diversity and intense competition in online advertising temper these strengths, the agency said.

S&P said it considers Weibo to be a core subsidiary of SINA Corp.

Weibo accounts for a vast majority of SINA's revenue and profit and is the parent's most important asset, the agency said.

The stable outlook reflects a view that Weibo and SINA will have healthy revenue growth and will maintain low debt leverage over the next two years, S&P said.

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