December 10, 2012 / 7:13 AM / 5 years ago

TEXT-S&P summary: Tencent Holdings Ltd.

(The following statement was released by the rating agency)

Dec 10 -

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Summary analysis -- Tencent Holdings Ltd. ------------------------- 10-Dec-2012

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CREDIT RATING: BBB+/Stable/-- Country: China

Primary SIC: Communications

services, nec

Mult. CUSIP6: 88032Q

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Credit Rating History:

Local currency Foreign currency

14-Nov-2011 BBB+/-- BBB+/--

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Rationale

The rating on China-based Internet services provider Tencent Holdings Ltd. reflects our view that the company will retain its strong user base in instant messaging and social networking services in China. The favorable growth prospects of China’s Internet industry and the company’s sound financial standing further support the rating. Intense competition and regulatory risk in China partly offset these strengths. Although Tencent has grown rapidly over the past several years, it has yet to prove its long-term earnings sustainability, in our view.

Our Standards:The Thomson Reuters Trust Principles.
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