Moody's ups Hyundai view to stable

Moody's Investors Service said it revised to stable from negative the outlook of the Baa3 issuer and senior unsecured bond ratings for Hyundai Motor Co. and its guaranteed subsidiary, Hyundai Motor Manufacturing Alabama LLC. Moody's also said it revised the Ba1 corporate family rating outlook of Kia Motors Corp. to stable from negative.

The action reflects the much stronger than expected operating performance of Hyundai and Kia amid a difficult operating environment for the global auto industry, Moody's said.

The agency said it expects both companies' key credit metrics will remain consistent with their ratings over the intermediate term.

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