Moody's affirms Hyundai Capital

Moody's Investors Service said it affirmed its Baa2 foreign-currency senior debt rating on Hyundai Capital Services.

The outlook remains negative.

This affirmation was prompted by the potential impact on the company's liquidity of a downgrade of the company's asset-backed securities to Aa1 from Aaa, Moody's said.

The company's overall fundamentals have improved markedly, the agency said. It has been strengthening its market position and profit margins for the past several quarters, while competitors faced challenges accessing funding or keeping up with higher funding costs, Moody's added.

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