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Hyundai Motor Company today welcomed Moody’s Investors Service (Moody’s) upgrade of the company’s corporate rating to A3 with a stable outlook from a previous rating of Baa1 with a positive outlook.
According to the report from Moody’s, the rating upgrade reflects Hyundai Motor’s continued profitability and balance sheet improvements, underpinned by the company’s strengthened product competitiveness and strong free cash flow generation. Moody’s also cited that Hyundai Motor’s profitability will remain robust and the company’s substantial financial buffer will stay largely intact over the next one to two years, notwithstanding the increasing difficulties in the global automotive industry.
This credit rating upgrade is significant and acknowledges our stable financial foundations amid challenging global economic conditions. Hyundai Motor will pursue more substantial growth in the future, focusing efforts towards achieving its business goals for this year.
Furthermore, Moody’s also mentioned that the A3 rating reflects Hyundai Motor’s strong position in the Korean automotive market, competitiveness in key overseas markets, high degree of geographic diversification, very low financial leverage and strong balance sheet.
In the meantime, Kia Corporation and Hyundai Mobis also received an upgrade of the companies’ corporate rating from Baa1 with a positive outlook to A3 with a stable outlook.
Contacts
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Florian Büngener
Head of Department PR & Communications
fbuengener@hyundai-europe.com LinkedIn ProfileAdriana Cerami
Head of Section Corporate & Brand PR
acerami@hyundai-europe.comKatharina Kupper
Hyundai Newsroom Lead
kkupper@hyundai-europe.comAnja Wente
Product PR & Communications Expert
awente@hyundai-europe.comElvira Herrera
Corporate Communications Expert
eherrera@hyundai-europe.comÁngel Pino Pérez
Product Communications Professional
apinoperez@hyundai-europe.comMaria Bricio
Corporate & Brand Communications Expert
