Moody’s rates Prosus Baa3

Moody's Investors Service said it assigned a Baa3 long-term issuer rating to Prosus NV, which was formerly Myriad International Holdings BV.

Moody's also affirmed the Baa3 ratings on the existing bonds issued by Prosus.

The outlook is stable.

Concurrently, Moody's withdrew the Baa3 long-term issuer rating and stable outlook on Naspers Ltd. because of the corporate reorganization following which substantially all of Naspers' assets and liabilities are held under its Prosus subsidiary.

“As part of Naspers' corporate restructuring, Naspers consolidated all of its international internet assets including the 31% stake in Tencent Holdings Ltd. (A1 stable) under its wholly-owned subsidiary, Myriad International Holdings BV (MIH),” the agency said in a news release.

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