Moody's may up Hyundai, Kia

Moody's Investors Service said it placed the Ba1 long-term debt ratings of Hyundai Motor Co. and the Ba2 long-term debt ratings and issuer rating of Kia Motors Corp. on review for possible upgrade.

Moody's said the review is prompted by both companies' continued good operating performance, supported by increased sales in major auto markets worldwide.

Despite the difficult operating environment in Korea, Moody's said Hyundai and Kia were able to maintain more than 70% market share in the domestic market and increase their market share in the United States, Europe and China in 2003. Both companies have further enhanced their market position overseas in 2004.

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