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Alibaba gets "A-plus" debt rating from agencies

[NEW YORK] Chinese e-commerce giant Alibaba Group Holding Ltd received its first debt ratings from international credit agencies on Thursday after the company announced plans for an issue of senior unsecured notes to raise an unspecified amount.

Standard & Poor's and Fitch Ratings rated the notes at investment grade "A-plus", while Moody's Investor Service assigned an equivalent "A1" rating.

Alibaba said it would use the net proceeds from the US bond offering primarily to refinance debt.