TEXT-Moody's upgrades Kia Motors to Ba2

Newswire

(Press release provided by Moody's Investors Service) TOKYO, May 23 - Moody's Investors Service has upgraded the senior debt ratings and issuer rating of Kia Motors Corp to Ba2 from Ba3. The ratings had been under review for possible upgrade since February 3, 2003. The rating outlook is stable. The upgrade is based on Kia's continuing solid operating performance and improving debt coverage measures. The rating action also reflects Kia's growing global presence - particularly in North ...

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