Moody's Investors Service, a global credit rating agency, on Tuesday said it expected Hyundai Motor Group's financial leverage to improve over the next 18 months on increasing profitability.
 |
(Yonhap) |
The financial status of Hyundai and Kia, South Korea's two biggest carmakers, will improve gradually over the next one and a half years, helped by improving sales in China, higher utilization rates in their US plants and the launch of new models, Moody's said in a report.
"This improvement will be driven by a slight increase in profitability and a gradual decline in debt," the report said.
But potential US tariffs on imported vehicles and parts will remain a concern for the carmakers, it said.
In the January-September period, Hyundai's sales rose 2.7 percent to 3.36 million autos from 3.27 million units a year earlier, while Kia's also climbed 2.7 percent to 2.08 million autos from 2.02 million units. (Yonhap)
