Hyundai Capital, Credit Ratings Upgraded by Domestic and International Credit Rating Agencies

Korea Ratings Raises Credit Ratings Recently
NICE Investors Service, Korea Investors Service, Moody's Also Upgrade Ratings

[Asia Economy Reporter Minwoo Lee] Following NICE Credit Rating, Korea Ratings, and Moody's, Korea Credit Rating also upgraded Hyundai Capital's credit rating. This appears to reflect a high evaluation of business stability due to its strong ties with Hyundai Motor Group.

On the 17th, Hyundai Capital announced that Korea Credit Rating raised the credit rating of Hyundai Capital's unsecured bonds from 'AA Stable' to 'AA Positive' the day before.

Recently, domestic and international credit rating agencies have been consecutively raising Hyundai Capital's credit rating. Last month, NICE Credit Rating and Korea Ratings upgraded Hyundai Capital's credit rating outlook to AA (Positive). On the 13th, Moody's, one of the world's top three credit rating agencies, upgraded it to Baa1 (Positive).

This contrasts with the recent atmosphere in the domestic capital industry, where concerns about interest rate hikes, global inflation, economic recession, and real estate project financing (PF) investment risks are growing.

Korea Credit Rating explained the reason for the outlook upgrade, stating, "As Hyundai Capital's ties with Hyundai Motor Group have strengthened, the level of operational integration has increased, maintaining excellent business stability based on this. Hyundai Motor and Kia's solid market dominance, strategic importance within the group’s business structure, and operational support based on affiliate relationships act as core competitive strengths firmly supporting Hyundai Capital's business foundation. Despite future changes in the business environment, the current level of excellent business stability is expected to be maintained." Hyundai Capital is the exclusive financial company of Hyundai Motor Group, with Hyundai Motor (59.7%) and Kia (40.1%) holding a combined 99.8% stake.

A Hyundai Capital official said, "We will do our best to provide optimized financial services to Hyundai Motor and Kia customers."

Hyundai Capital New Headquarters Building Exterior View

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