S&P: Hyundai Card to positive

S&P said it revised the outlook on Hyundai Card Co. Ltd. to positive from stable.

The agency also said it affirmed the company’s BBB long-term issuer credit ratings.

The outlook revision reflects a view that Hyundai Card has a stronger capital buffer against a spike in credit losses to sustain a strong level of capitalization in the coming 18 to 24 months, S&P said.

The positive view also considers the company's controlled growth appetite and ongoing focus on managing asset quality, the agency said.

Hyundai Card has strengthened its track record in improving its asset quality and credit costs while maintaining broadly stable profitability and capitalization in recent years, S&P said.

This is despite tough operating conditions, stiff competition, regulatory pressure and deteriorating household debt-servicing capability, the agency said.

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