Fitch ups Hyundai Card

Fitch Ratings said it upgraded Hyundai Card Co.'s long-term foreign-currency issuer default rating to BBB+ from BBB.

The outlook has been revised to stable from positive.

The upgrade reflects the company's consistently sound operating performance, which is a result of solid margins, good underlying loan quality, well-managed liquidity and solid capitalization, Fitch said.

The high quality of the company's loan book is supported by its focus on relatively low-risk credit-purchase products and tight credit risk management, the agency said.

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