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Hyundai, Kia gets triple A credit rating from S.Korean agencies

Korea Economic Daily LogoKorea Economic Daily2w ago

Hyundai, Kia gets triple A credit rating from S.Korean agencies - Korea Economic Daily

Quick Summary:

Kia has obtained the highest credit rating from all three domestic agencies for the first time in its 80-year history.“Kia has strengthened its position in the global automotive market through enhanced product competitiveness and improved brand recognition,” NICE Investors Service and Korea Ratings explained.“The technological capabilities and production capacity to meet various market demands, including hybrid, electric, hydrogen, and internal combustion vehicles, are at the top level in the industry,” they added.

Hyundai Motor Co.and Kia Corp.said on Monday they received AAA ratings, with Stable outlooks for both companies, from Korea Ratings Corp., Nice Investors Service, and KIS Rating, South Korea’s top three credit rating agencies.

Korea Ratings cited Hyundai’s strong powertrain competitiveness and improved profit structures, bolstered by favorable currency conditions, as reasons for the upgrade.“Hyundai is expected to sustain profitability above the market average,” the agency said, noting that enhanced cash flow has fueled investments, supporting long-term financial stability and competitive positioning.


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Category: Economy

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-04 @ 11:22:09 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 282 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 19 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 23387352

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Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 12 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 1 hours ago

Coverage Areas: South Korea

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Publisher ID: #91

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