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S&P rates Hyundai Capital bonds BBB+
Standard & Poor's said it assigned a BBB+ rating to the Swiss franc-denominated senior unsecured bonds by Hyundai Capital Services Inc.
The company will issue two bonds: a CHF 150 million 2% senior unsecured bonds due Nov. 27, 2013; and CHF150 million 3% senior unsecured bonds due May 27, 2016.
The bonds will be drawn down from a $3 billion global medium-term note program.
The bonds will constitute direct, unconditional, unsecured and unsubordinated obligations of Hyundai Capital.
They will also rank pari passu with all other unsecured obligations. The proceeds will be used for its general operations, S&P said.
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