Hyundai Motor Group Companies' Ratings Upgraded by Global Top Rating Agencies
-
Hyundai Motor and Kia receive series of rating raises in 2024 from major global credit ratings agencies - Upgrade for Hyundai and Kia follows strong financial performance and improved competitiveness of diverse product lineup
- Latest ratings upgrade comes ahead of
Hyundai Motor CEO Investor Day on Wednesday 28th August, set to outline future strategy and financials
These upgrades solidify both
|
Hyundai |
Kia |
||
Aug '24 |
|
Aug '24 |
|
|
Previous |
Previous |
|||
S&P Global |
A- |
|
A- |
|
BBB+ |
BBB+ |
|||
Moody's Investor |
A3 |
|
A3 |
|
Baa1 |
Baa1 |
|||
Fitch Ratings |
A- |
|
A- |
|
BBB+ |
BBB+ |
Robust performance, flexible capabilities
According to S&P, Fitch and Moody's, both companies' ratings upgrades were driven by their robust financial performance, characterized by strong predicted double-digit profit margins and cash flow. Improved product competitiveness of the brands' diverse vehicle lineups, robust market positioning relating to electrification strategy, and a flexible production approach to meet changing global demands were also key contributing factors.
S&P outlined solid profit and cash flow following "three years of marked enhancement in profitability starting in 2021", adding, "Its solid portfolio of hybrid and BEVs should help support the company's competitive position amid the transition to electrification."
Fitch Ratings previously highlighted
Moody's Investors Service previously emphasized continued profitability and a strong balance sheet, among other factors.
More information about
http://www.hyundaimotorgroup.com or Hyundai Media_Hubhttps://www.hyundai.com/worldwide/en/newsroom, Kia Global Media Center, Genesis Newsroom
View original content to download multimedia:https://www.prnewswire.com/news-releases/hyundai-motor-group-companies-ratings-upgraded-by-global-top-rating-agencies-302230312.html
SOURCE