Moody's may cut rating of Hyundai Motor

SEOUL, Jan. 21 (Yonhap) -- Moody's Investors Service said Wednesday it put
Hyundai Motor Co.'s foreign currency debt rating on review for a possible
downgrade, citing the company's slumping sales and weakening liquidity position.

"The rating action was driven by concerns over an expected weakening in Hyundai
Motor Group's operating performance in 2009 in conjunction with the accelerating
downtrend in global auto sales," said Chris Park, a senior analyst at Moody's.
"This also reflects the increasing liquidity pressure associated with the turmoil
in credit markets which has been placed on the group," the analyst said.
Kia Motors Corp., an affiliate of Hyundai Motor Co., was also put on review for a
possible downgrade, Moody's said.
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