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Fitch Assigns A Ratings to Tencent Holdings' Proposed US Dollar, Yuan Notes

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Fitch on Monday gave A ratings to Tencent Holdings' (HKG:0700) proposed US dollar and yuan senior unsecured notes.

The Chinese technology and entertainment conglomerate will issue the notes under its $30 billion medium-term note program.

The proposed notes' rating is equivalent to the company's A senior unsecured rating, ranking equally at all times with current and future senior unsecured debt. Other key rating drivers include AI-driven advertising growth and the company's strong business profile and games portfolio.

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