Fitch Ratings has kept Tencent Music Entertainment Group's (HKG:1698) ratings at A-, with the outlook remaining stable, according to a Friday release.

The rating action considers the company's robust network with parent Tencent Holdings, Fitch said.

The rating agency views the parent as having "low" legal incentive, "medium" strategic incentive, and "high" operational incentive to support the subsidiary.

Meanwhile, the company's "bbb+" standalone credit profile stems from its solid market share as the country's biggest online music platform, robust cash flow, solid net cash position, and steady EBITDA leverage.

Changes in the parent's rating or incentives to support the subsidiary could trigger future rating actions, Fitch said.