Moody's assigns Hyundai notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to the planned backed senior unsecured dollar-denominated notes to be issued by PT Hyundai Motor Manufacturing Indonesia and by its parent, Hyundai Motor Co.

“Given the unconditional and irrevocable guarantee, the Baa1 rating on the notes mirrors Hyundai Motor's credit quality and its Baa1 rating,” Moody’s said in a press release.

The proceeds will be used mainly to build a manufacturing plant in Indonesia.

The outlook is stable.

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