Fitch affirms Alibaba’s credit rating at ‘A+’

Fitch Ratings assigned an ‘A+’ rating to Alibaba Group Holding Limited’s proposed US dollar and offshore Chinese yuan senior unsecured notes. This rating aligns with Alibaba’s existing ‘A+’ senior unsecured rating.

The proceeds from the issuance of these notes will be utilised for general corporate purposes, including debt repayment and share repurchases.

The Negative Outlook on Alibaba’s Foreign- and Local-Currency Issuer Default Ratings (IDRs) reflects the Negative Outlook on the Chinese sovereign IDR.

Attribution: Fitch Ratings report

Subediting: M. S. Salama