Moody's changes Hyundai view to positive

Moody's Investors Service said it changed the outlooks on Hyundai Motor Co., Kia Corp. and Hyundai Mobis Co., Ltd. to positive from stable.

The agency also affirmed the Baa1 issuer ratings of Hyundai Motor, Kia and Hyundai Mobis, and Kia's Baa1 senior unsecured rating.

Concurrently, Moody's changed the outlooks to positive from stable and affirmed the Baa1 backed senior unsecured ratings of Hyundai Motor Manufacturing Indonesia and Hyundai Assan Otomotiv Sanayi ve Ticaret AS, reflecting the guarantee from their parent, Hyundai Motor.

"The change to positive in the outlooks on Hyundai Motor, Kia and Hyundai Mobis reflects our expectation that Hyundai Motor's and Kia's profitability over the next one to two years will remain higher than their historical levels during 2017-20, supported by improved product competitiveness," said Wan Hee Yoo, a Moody's vice president and senior credit officer, in a press release.

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