Moody’s: Hyundai, Kia, Hyundai Mobis views now stable

Moody's Investors Service said it changed the outlooks of Hyundai Motor Co. (HMC), Kia Motors Corp. (Kia) and Hyundai Mobis Co., Ltd. to stable from negative.

At the same time, Moody's said it affirmed the Baa1 issuer ratings of HMC, Kia and Hyundai Mobis and the Baa1 senior unsecured rating of Kia.

“The outlook changes to stable of HMC, Kia and Hyundai Mobis reflect our expectation that the companies' profitability will improve over 2021-22 from weak levels over the past 2-3 years, supported by their improving product mix and a rebound in auto sales,” said Wan Hee Yoo, a Moody's vice president and senior credit officer, in a news release.

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