Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for Kia Motors > News item |
Fitch boosts Hyundai, Kia
Fitch Ratings said it upgraded Hyundai Motor and Kia Motors' long-term foreign-currency issuer default and senior unsecured debt ratings to BBB+ from BBB, and its short-term foreign-currency issuer default ratings to F2 from F3.
The outlook is stable.
The upgrades reflect continued significant improvements in the companies' competitive positions and credit profile over the past year, the agency said.
The agency said ratings could be downgraded if the companies' combined adjusted net debt to EBITDA (industrial operations) is sustained above 0.5x and if there is a major reversal of market recovery or market share erosion in key markets.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.