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Fitch affirms Hyundai Card
Fitch Ratings said it affirmed Hyundai Card Co., Ltd.'s long-term foreign-currency issuer default rating at BBB and short-term foreign-currency issuer default rating at F2.
Its outlook was revised to positive from stable.
Even though Korea's economic weakness could lead to significantly higher credit costs, the economy has, so far, held up quite well, with credit costs remaining manageable, Fitch said.
As such, the company's profitability has remained intact, along with its capitalization, the agency said.
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