[Hyundai Mobility Japan Co., Ltd.] Hyundai Motor’s credit rating upgraded to “A-” by S&P Global
*Hyundai Mobility Japan Co., Ltd.*
Press release: August 30, 2024
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Hyundai Motor’s S&P Global credit rating upgraded to ‘A-‘
* ・Hyundai Motor’s S&P Global Rating changed from “BBB+” to “A-” * * Upgraded and received “A” ratings from all three of the world’s top credit institutions this year*
* ・Hyundai Motor’s product/brand competitiveness, profitability, financial soundness, *
* Is it highly rated globally, reflecting its position in the global market?*
Seoul, announced on August 22, 2024 – Hyundai Motor Company
(hereinafter referred to as Hyundai Motor Company)
Motor) announced that its rating has been upgraded from “BBB+” to “A-” by global credit rating agency S&P Global (hereinafter referred to as “S&P Global”). S&P Global is Hyundai
We assess Motor’s rating outlook as “Stable.”
Hyundai
Motor was upgraded to “A3” and “A-” by Moody’s Ratings and Fitch Ratings in February, respectively, and this upgrade means that Motor was upgraded to “A-” by all three of the world’s major rating agencies earlier this year. This means you have a credit rating of “A”. These high global ratings reflect our product and brand competitiveness, profitability, financial soundness, and global market position. S&P Global evaluates the creditworthiness of countries and companies by dividing ratings into 22 levels from AAA to D. The seventh highest rating, ‘A-‘, means good credit standing and significantly low credit risk.
S&P Global is Hyundai
The company seems to have decided to upgrade Motor’s rating after evaluating its strengthened market position and steady profit and cash flow. This follows a significant increase in profitability over the three-year period starting in 2021, driven by increased market share, improved product mix and exchange rate tailwinds.
Additionally, with a balanced portfolio that includes both EV and hybrid models, it is expected to be able to respond to market changes during the electrification transition period. “Stable” outlook means Hyundai
This reflects Motor’s expectation that it will maintain strong profitability over the next 12 to 24 months.
Hyundai is ranked A by S&P Global.
There are only six major car companies in the world, including Motor, Kia, Toyota, BMW, and Mercedes-Benz.
Hyundai Motor will continue to strive to maintain financial soundness and strengthen international competitiveness by responding flexibly to market changes.
* About Hyundai*
Hyundai Motor founded in 1967
The Company operates in more than 200 countries and employs more than 120,000 people, addressing real-world mobility challenges around the world. The brand vision “Progress”
for Humanity”, Hyundai
Motor is accelerating its transformation into a smart mobility solutions provider. Hyundai is using robotics and advanced technology to deliver innovative mobility solutions.
Air
We are investing in advanced technologies such as mobility (AAM) and pursuing open innovation to introduce future mobility services. For a sustainable future for the world, Hyundai
Motor will continue its efforts to introduce zero-emission vehicles equipped with industry-leading hydrogen fuel cell and electric vehicle technology.
For more information about Hyundai Motor Company and its products, please visit:
https://www.hyundai.com/worldwide/en/