- Language: English
- Published: July 2012
Summary: Hyundai Glovis Co. Ltd. Dec 11
- Published: December 2011
- Standard & Poors
The rating on Korea-based integrated logistics company Hyundai Glovis Co. Ltd. (Glovis; BBB/Positive/--) reflects the company's good position in Korea's logistics market, supported by its strong relationship with Hyundai Motor Group (HMG); its strong potential for revenue growth; and its moderate financial risk profile. Constraining factors include the company's narrow customer base, its exposure to the highly cyclical and competitive automotive industry, and its weak corporate governance. Glovis is HMG's main logistics provider and one of the largest in Korea. The company manages the supply and warehousing of automotive materials for Hyundai Motor Co. (HMC; BBB/Positive/--) and Kia Motors Corp. (Kia; BBB/Positive/--). Glovis operates two businesses, mostly related to the auto industry: logistics and distribution. Revenue from HMG accounted for...
Companies mentioned in this report are: Hyundai Glovis Co. Ltd.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Hyundai Glovis Co. Ltd.