TEXT-Fitch upgrades HMC and Kia to 'BBB'; outlook positive

Newswire

(The following statement was released by the ratings agency) May 24 - Fitch Ratings has upgraded Hyundai Motor Company's (HMC) and affiliate Kia Motors Corporation's (Kia) Long-Term Foreign Currency Issuer Default Ratings (IDRs) and senior unsecured ratings to 'BBB' from 'BBB-'. The Outlooks on the Long-term IDRs are Positive. The agency has also affirmed HMC's and Kia's Short-Term Foreign Currency IDRs at 'F3'. The upgrade of HMC's and Kia's Long-term IDRs reflects major improvements in ...

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