[Special Stocks] 'Moody's Credit Rating Up' Hyundai Motor, Kia, Hyundai Mobis All Rise Together

Global credit rating agency Moody's upgraded the credit ratings of Hyundai Motor, Kia, and Hyundai Mobis, leading to a simultaneous rise in their stock prices on the 7th.

As of 3:10 PM that day, Hyundai Motor was trading at 244,500 KRW, up 9,000 KRW (3.82%) from the previous trading day. Kia was trading at 114,900 KRW, up 3,300 KRW (2.96%), and Hyundai Mobis was trading at 229,000 KRW, up 9,500 KRW (4.33%).

The green light is on at the traffic signal in front of the Hyundai-Kia Motors headquarters in Seocho-gu, Seoul. Photo by Jinhyung Kang aymsdream@

Earlier, Hyundai Motor Group announced on the 6th that "Moody's has upgraded the credit ratings of Hyundai Motor, Kia, and Hyundai Mobis to A3." These companies had obtained a Baa1 credit rating from Moody's in October 2012. In February last year, Moody's revised the credit rating outlook for these companies from 'Stable' to 'Positive,' signaling a potential upgrade.

Only eight automobile companies, including Hyundai Motor, Kia, Toyota, BMW, and Mercedes-Benz, have achieved an A rating.