...August 24, 2020 - We consider Tencent Music Entertainment Group (TME) to be a highly strategic subsidiary of Tencent Holdings Ltd. (Tencent). We therefore rate TME one notch below Tencent. - We believe TME will remain a dominant player in China's fast-growing online music entertainment market and maintain low debt leverage. - On Aug. 24, 2020, S&P Global Ratings assigned its 'A' long-term issuer credit rating to TME and its 'A' long-term issue rating to the company's proposed senior unsecured notes. - The stable outlook on TME reflects our outlook on Tencent and our expectation that TME will maintain its business strength and importance to Tencent over the next two years. HONG KONG (S&P Global Ratings) Aug. 24, 2020--S&P Global Ratings today took the rating actions listed above. The rating on TME reflects our view that the company is a highly strategic subsidiary of Tencent (A+/Stable/--). We believe TME is strategically important to, and operationally integrated with, Tencent. Our assessment...
