Nice Credit Rating, Hyundai Motor Credit Rating Upgraded to AAA

NICE Credit Rating, one of the top three credit rating agencies in Korea, has upgraded Hyundai Motor Company's credit rating for the first time in four years.

On the 2nd, Hyundai Motor announced that it had received an AAA credit rating from NICE Credit Rating. The previous credit rating adjustment was AA+ in April 2020. Along with this upgrade, the credit rating outlook was also presented as 'Stable.'

The AAA rating is the highest among the 10 rating levels in NICE Credit Rating's credit rating system. It signifies the highest level of overall debt repayment ability.

NICE Credit Rating explained the background of the rating adjustment, stating, "Due to Hyundai Motor's enhanced product competitiveness, the proportion of sales in key markets has expanded, and the sales mix has improved focusing on high value-added vehicle models, resulting in a significantly greater improvement in operating profitability compared to other global automakers."

They added, "Hyundai Motor possesses abundant cash liquidity and stable profit-generating capacity, providing financial cushioning and maintaining excellent financial stability."

Recently, not only domestic but also global credit rating agencies have been upgrading Hyundai Motor's credit rating. In February, Moody's upgraded Hyundai Motor's credit rating from Baa1 to A3, and Fitch raised it from BBB+ to A-.

Earlier in January, Standard & Poor's (S&P) upgraded Hyundai Motor's credit rating outlook from 'Stable' to 'Positive.'

A Hyundai Motor official said, "Following global credit rating agencies, the leading domestic credit rating agency has also upgraded our credit rating, reaffirming the positive evaluation we are receiving. We will continue to strengthen financial soundness and profitability to maintain a stable management environment."

This content was produced with the assistance of AI translation services.