Hyundai Capital Services Inc. Dec 12
- ID: 2359512
- December 2012
- Standard & Poors
Strong market leadership supported by the Hyundai Automotive group's strong domestic business Support from General Electric Capital Corp. Good profitability High dependency on market-sensitive funding sources Business concentration in new-car financing Exposure to unsecured personal loans, which are inherently vulnerable to volatility in the economic cycle Our ratings on Hyundai Capital Services Inc. (HCS; BBB+/Stable/A-2) reflect its strong market leadership backed by Hyundai Automotive group's strong domestic market presence, support from General Electric Capital Corp. (GECC; AA+/Stable/A-1+), and good profitability. On the other hand, the ratings are constrained by the company's high dependency on market-sensitive funding sources, its business concentration in new-car financing, and exposure to unsecured personal loans, which are inherently vulnerable to the economic cycle. HCS is the...
Companies mentioned in this report are:
- Hyundai Capital Services Inc.
- Hyundai Capital America
- Hyundai Motor Co.
- Kia Motors Corp.
- Hyundai Card Co. Ltd.
- Hyundai Mobis Co. Ltd.
- Hyundai Glovis Co. Ltd.
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Research Type: Full Analysis