TEXT-S&P: Hyundai ratings not hurt by Daimler stake sale


(The following statement was released by the rating agency) TOKYO, May 18 - Standard & Poor's Ratings Services said today that its ratings on Hyundai Motor Co. (BB+/Positive/--) would not be affected by the recent announcement that DaimlerChrysler AG (BBB/Negative/A-2) will sell its 10.5% stake in Hyundai Motor and terminate plans to establish an engine joint venture in Korea. "The ratings on Hyundai Motor will continue to be based on the carmaker's own credit merits, namely its ...

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