Kia have received an upgrade from Fitch Ratings, with Long-Term Issuer Default Ratings (IDRs) and senior unsecured ratings raised to A- with a stable outlook from the previous BBB+. Fitch attributed the upgrade to Kia's enhanced brand strength and market position, geographical and product diversification, improved profitability, and ample liquidity.
The A- rating reflects Kia's improving business profile, particularly in the electric vehicle (EV) segment in the US and Europe. Moody's Investors Service also recently upgraded Kia's corporate rating to A3 with a stable outlook.
Also Read: Maruti Suzuki Car Offers, February 2024 , Baleno, Dzire, Swift, Grand Vitara
Hyundai Car Offers For February 2024 , i20, Nios, Aura, Venue, Verna
Note: If You Want to Buy a New Car, Calculate Car Loan EMI with V3Cars
Here’s what Kia have to say about securing a rating upgrade from Fitch & Moody’s:
Kia Corporation today welcomed Fitch Ratings’ (Fitch) upgrade of the company’s Long-Term Issuer Default Ratings (IDRs) and senior unsecured ratings to A- with a stable outlook from a previous rating of BBB+.
The rating upgrade reflects the continued improvement in Kia’s brand strength and market position in key markets, Fitch said in its report. Geographical and product diversification as well as improved profitability and cash generation, and large liquidity buffers were also taken into consideration, it added.
Furthermore, Fitch cited that the A- rating reflects Kia’s steadily improving business profile in recent years. Fitch also outlined how the brand’s key market positions have been improved, with robust market position in the electric vehicle (EV) segment in the US and Europe.
Kia also received an upgrade of the company’s corporate rating to A3 with a stable outlook from Moody’s Investors Service last week.
Also Read: Honda Car Offers For February 2024 , Amaze, City
Volkswagen Car Offers For Feb 2024 , Virtus, Taigun, Tiguan
Note: Calculate Car Fuel Cost with V3Cars for India and Other Countries