| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for Hyundai Card Co., Ltd. > News item |
S&P trims Hyundai Card, Hyundai Capital
S&P said it lowered the long-term issuer credit rating on Hyundai Card Co. Ltd. to BBB from BBB+.
The outlook is stable.
At the same time, the agency lowered the long-term issuer and issue credit ratings on Hyundai Capital Services Inc. to BBB+ from A-.
S&P also affirmed the A-2 short-term issuer credit rating.
“We downgraded HCS and HCC to reflect a similar action on their parents Hyundai Motor Co. (HMC) and Kia Motors Corp.,” the agency said in a news release.
“As of end June 2018, HMC and its affiliates own about 80% of HCS and about 73% of HCC. We expect HCS to remain a core subsidiary of Hyundai Motor group at least for the coming two years, and the rating on HCS will move in tandem with the group credit profile (GCP).”
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.