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Bulletin: No Immediate Ratings Impact On Hyundai Capital Services From Customer Information Leakage Due To Hacking
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: 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) April 12, 2011--Standard & Poor's Ratings Services said today that there is no immediate ratings impact on Hyundai Capital Services Inc. (HCS; BBB+/Stable/A-2) from a leak of customers' information due to hacking. According to HCS's press conference on April 10, 2011, the personal information of about 420,000 customers, or about 23% of a total of 1.8 million customers, was leaked due to hacking, and about 13,000 of the affected customers could have had their key information, such as passwords of loan accounts, stolen. The police and financial regulator are now investigating the incident. In our view, this incident does not have an immediate impact on the credit profile of HCS given the limited number of customers...
Companies mentioned in this report are: Hyundai Capital Services Inc.
Action: Bulletin
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