TEXT-S&P assigns BB-plus to Hyundai backed senior notes

Newswire

(Media release from Standard & Poor's) TOKYO, Nov 17 - Standard & Poor's Ratings Services today assigned its 'BB+' rating to the proposed senior notes due 2010 to be issued by Hyundai Motor Manufacturing Alabama, LLC . The notes are unconditionally and irrevocably guaranteed by Hyundai Motor Co. (BB+/Positive/--). "The rating on Hyundai is supported by the company's dominant position in Korea's automobile market and its ability to withstand the current downturn in the U.S. and ...

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