Moody's: Hyundai to positive

Moody's Investors Service said it revised to positive from stable the outlook of the Baa2 issuer and senior unsecured bond ratings for Hyundai Motor Co. and its guaranteed subsidiaries, Hyundai Motor Manufacturing Czech sro, Hyundai Capital America and Hyundai Motor Manufacturing Alabama LLC.

Moody's also said it revised the outlook of the Baa2 issuer and senior unsecured bond ratings for Kia Motors Corp. to positive from stable and upgraded its standalone rating to Baa3 from Ba1.

The action primarily reflects its stronger-than-expected sales performance in 2011 and an expectation that the company's financial profile will improve to a level over the next 12 to 18 months that is strong for the Baa2 rating, said Chris Park, a Moody's analyst.

The action on Kia is based on the upgrade of its standalone rating as a result of its improved business and financial profile, as well as rating uplift from the support that its parent, Hyundai Motor, is likely to provide in a distressed scenario, the agency said.

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