Hankyung Rating Upgrades Hyundai Elevator to A+ Grade
[Asia Economy Reporter Hyungsoo Park] On the 30th, Korea Ratings upgraded the credit rating of Hyundai Elevator's unsecured bonds from A0 (positive) to A+ (stable).
Korea Ratings assessed the rating considering Hyundai Elevator's stable operating performance despite the global economic downturn, the completion of the Shanghai factory, and the improved financial structure despite the relocation of the Chungju factory.
They also cited the cost structure exceeding the industry average and business competitiveness based on fixed clients as positive factors.
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Korea Ratings expects Hyundai Elevator to maintain a debt-free management policy. Considering the increasing trend of domestic residential construction orders, they analyzed that favorable operating cash flow will be generated.
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