Moody's confirms Hyundai Mobis

Moody's Investors Service said it confirmed Hyundai Mobis Co.'s Baa3 issuer rating.

The outlook is negative.

This concludes the review for downgrade that began January and follows the confirmation of Hyundai Motor Co.'s Baa3 rating with a negative outlook, Moody's said.

The confirmation reflects the close linkage between the ratings of Hyundai Mobis and Hyundai Motors, the agency said.

Hyundai Mobis' debt-to-EBITDA ratio of 2x remains strong for its Baa3 rating, partly reflecting its stable aftermarket businesses and traditionally healthy financial profile, Moody's said.

Its rating continues to be constrained by Hyundai Motor's rating, the agency added.

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