Hyundai and Kia receive credit rating upgrades from S&P, Moody's, and Fitch due to strong financial performance and flexible production approach.
Hyundai Motor Company and Kia Corporation have received credit rating upgrades from S&P Global, Moody's Investors Service, and Fitch Ratings in 2024, marking a significant milestone for the South Korean automakers. The upgrades, which include S&P raising Hyundai Motor's rating to 'A-', Fitch Ratings giving the same rating to both brands, and Moody's upgrading Kia's rating to 'A3', were driven by strong financial performance, improved product competitiveness, and a flexible production approach. The companies' robust market positioning relating to their electrification strategy and solid profit and cash flow also contributed to the rating upgrades.
August 26, 2024
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