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'BBB' Rating Assigned To Hyundai Capital's ?30 Billion Samurai Bond
Standard & Poors, Jan 2006
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
TOKYO (Standard & Poor's) Jan. 19, 2006--Standard & Poor's Ratings Services today assigned its 'BBB' rating to Hyundai Capital Services Inc.'s (HCS; BBB/Stable/A-2) proposed -30 billion Samurai bond due 2009. The rating is subject to final documentation. The rating on HCS is based on its position as the key captive financing arm of its parent, Hyundai Motor Co. (BBB-/Stable/--), and the expected ongoing support from its part-owner General Electric Capital Corp. (GECC; AAA/Stable/A-1+). The ratings on HCS and Hyundai Motor are closely linked, reflecting the strong business and operational ties between the two companies. HCS is the dominant player in Korean auto financing, commanding about two-thirds of the market. The company provides finances for over 60% of the domestic sales...
Companies mentioned in this report are: Hyundai Capital Services Inc.,Hyundai Motor Co.,Kia Motors Corp.
Action: New Rating
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