Fitch affirms Hyundai, Kia

Fitch Ratings said it affirmed Hyundai Motor Co.'s and Kia Motors Corp.’s long-term foreign-currency issuer default ratings at BBB+ with a stable outlook.

Fitch also affirmed the companies' short-term foreign currency issuer default ratings at F2 and senior unsecured ratings at BBB+.

The ratings on the notes issued by Hyundai Capital America were affirmed at BBB+.

“The ratings and outlooks on HMC and Kia are supported by the companies' solid financial profiles and strong liquidity,” the agency said in a news release.

“Nevertheless, rating headroom remains thin and the ratings could be downgraded if profitability pressure appears to be due to a structural deterioration of the groups' credit profile rather than cyclical weakness.”

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