ID :
56592
Tue, 04/21/2009 - 14:04
Auther :
Shortlink :
https://www.oananews.org//node/56592
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Moody`s downgrades Kia outlook to negative
SEOUL, April 21 (Yonhap) -- Moody's Investors Service Inc. on Tuesday cut its
long-term debt outlook for Kia Motors Corp. (KMC) to negative from stable, citing
its weak financial position and turmoil in global auto markets.
"The rating action primarily reflects KMC's limited ability to turn around its
weak financial profile amid the highly challenging operating environment," said
Chris Park, a senior analyst at Moody's
The rating also considers lingering concerns over Kia's heavy dependence on
short-term debt, Moody's said.
Kia is a unit of Hyundai Motor Co., South Korea's top automaker.
(END)
long-term debt outlook for Kia Motors Corp. (KMC) to negative from stable, citing
its weak financial position and turmoil in global auto markets.
"The rating action primarily reflects KMC's limited ability to turn around its
weak financial profile amid the highly challenging operating environment," said
Chris Park, a senior analyst at Moody's
The rating also considers lingering concerns over Kia's heavy dependence on
short-term debt, Moody's said.
Kia is a unit of Hyundai Motor Co., South Korea's top automaker.
(END)
