Fitch Ratings affirmed the long-term issuer default ratings (IDR) of South Korean automakers Hyundai Motor and Kia at “BBB+” with a stable outlook, the agency said in a press release.
“The rating affirmation and stable outlook reflect the companies’ solid business profile, including large scale, geographic diversification and strong positions in several major markets,” Fitch explained.
The ratings benefit from the companies’ robust financial profiles and large liquidity reserves, giving them financial flexibility in a challenging operating environment, the agency analysts said.
source: fitchratings.com
