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BEIJING, Nov. 14 -- Chinese e-commerce behemoth Alibaba received its first debt rating from Fitch Ratings, which rated the company's proposed note offering at investment grade "A-plus."

The investment grade rating reflects Alibaba's dominant position in China's online shopping market, thriving ecosystem, low-risk and monetization-proven model, sustainable market opportunities as well as its robust profitability and cash generation, Fitch said in a report.

Fitch said the large size and potential for sustainable growth in China's online shopping market help mitigate Alibaba's limited geographical diversification.

The agency expects Alibaba to maintain high profitability and robust cash generation due to its asset-light marketplace business model.

The proposed offering comes about two months after Alibaba made its debut on the New York Stock Exchange in the largest IPO in history. The company announced Thursday that it proposed offering senior unsecured notes, with the principal amount, interest rates, maturity dates and other terms of the U.S. dollar-denominated notes to be determined at the time of the offering's pricing.

Alibaba plans to use the net proceeds from the offering to refinance its existing credit facilities.

On China's Singles' Day on Nov. 11, which is similar to the Black Friday shopping holiday in the United States, Alibaba posted record sales of 57.1 billion yuan (9.3 billion U.S. dollars).