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Kia welcomes credit rating upgrade to A3 by Moody's Investors Service
"Kia has achieved substantial improvements in profitability through strengthened product and cost competitiveness by securing investment efficiency," said Woo Jeong Joo, Executive Vice President and CFO of Kia Corporation. "We will continue to proactively respond to future technological trends and focus our efforts to further enhance financial soundness."
Furthermore, Moody's also mentioned that the A3 rating reflects Kia's strong position in the Korean automotive market, competitive position in key overseas markets, high degree of geographic diversification, very low financial leverage and strong balance sheet.
In the meantime, Hyundai Motor Company and Hyundai Mobis also received an upgrade of the companies' corporate rating from Baa1 with a positive outlook to A3 with a stable outlook.
View original content:https://www.prnewswire.co.uk/news-releases/kia-welcomes-credit-rating-upgrade-to-a3-by-moodys-investors-service-302054441.html