Moody's ups Hyundai

Moody's Investors Service said it upgraded to Baa2 from Baa3 the issuer and senior unsecured bond ratings on Hyundai Motor Co. and its guaranteed subsidiary, Hyundai Motor Manufacturing Alabama LLC, as well as Hyundai Motor Manufacturing Czech sro.

This concludes a review for possible upgrade that began in August.

The outlook is stable.

The actions reflect an expectation that the company's financial profile will significantly improve in 2010 and remain robust over the medium term, underpinned by its continued market share growth globally and Kia Motors Corp.'s rapid turnaround, Moody's said.

Despite an expected slowdown in demand in the major markets in the second half of 2010, Moody's said it anticipates the group's unit sales will grow in the low teens in 2010.

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