Moody's changes Prosus view to positive

Moody's Investors Service said it changed Prosus NV’s outlook to positive from stable and affirmed the Baa3 long-term issuer rating, the (P)Baa3 global medium-term note programs ratings and the Baa3 ratings of the company's outstanding rated bonds.

The improved outlook reflects the company’s maintaining strong financial metrics and solid liquidity, supported by conservative financial policies, as it stated in November 2021, the agency said.

“Continued adherence to these financial practices and policies would further support the consideration of an upgrade of the rating to Baa2 over the next 12 to 18 months.

The removal in June 2022, of the commitment not to sell any further shares in Tencent Holdings Ltd. (Tencent, A1 stable) before April 2024 has also improved the company's liquidity and provides it with additional levers to ensure continued compliance with its financial policy in case valuations of its investments deteriorate unexpectedly,” Moody’s said in a press release.

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