TEXT-Moody's upgrades Hyndai Motor

Newswire

(Press release provided by Moody's Investors Service) Tokyo, May 23 - Moody's Investors Service has upgraded the debt ratings of Hyundai Motor Company (HMC) to Ba1 from Ba2. The ratings had been under review for possible upgrade since February 3, 2003. The rating outlook is stable. The upgrade is based on HMC's continuing solid operating performance and improving debt coverage measures. The rating action also reflects HMC's growing global presence - particularly in North America - its ...

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