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Hyundai Motor Co.
Standard & Poors
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: Full Analysis
Dominant position in the Korean automobile market Well-diversified geographic revenue base Strengthening global market position Aggressive group expansion strategy and capital expenditures Unstable relationship with labor union Possibility of extending support to weak group companies The rating on Korea-based automaker Hyundai Motor Co. (HMC; BBB-/Stable/--) reflects the company's dominant position in Korea's automobile market, improving global market position, and its geographically diverse revenue base. Conversely, the rating is constrained by the group's aggressive expansion strategy, an unstable relationship with labor unions, and the possibility of HMC lending support to weak group companies. HMC has about a 50% of the Korean automobile market. Its combined market share with its subsidiary, Kia Motors Corp. (BBB-/Stable/--), stood at about 80% in 2009. In...
Companies mentioned in this report are: Hyundai Motor Co.,Kia Motors Corp.,Hyundai Capital Services Inc.,Hyundai Card Co. Ltd.,Hyundai Mobis Co. Ltd.,Hyundai Glovis Co. Ltd.
Hyundai Motor Co.,Kia Motors Corp.,Hyundai Capital Services Inc.,Hyundai Card Co. Ltd.,Hyundai Mobis Co. Ltd.,Hyundai Glovis Co. Ltd.