Moody's Hyundai, Kia ratings unaffected

Moody's Investors Service said it does not expect the ratings of Hyundai Motor Co. (Baa3/stable) and Kia Motors Corp. (Baa3/stable) to be affected by the moves to arrest Hyundai chairman Chung Mong-Koo on embezzlement charges.

In the agency's opinion, any arrest is unlikely to rapidly undermine the companies' command of over 70% of the Korean market as consumer perceptions will be materially unaffected. Similarly, sales abroad will not be materially impacted, especially in North America and Europe, where customers tend to decide according to price and quality.

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