Kia Secures Credit Rating Upgrades From Fitch And Moody's (Press Release) | V3Cars

Feb 18, 2024, 09:00 AM IST
By Saloni Chaudhary
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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.

Kia Secures Rating Upgrades From Fitch & Moody’s

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.

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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.

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ABOUT THE AUTHOR

Saloni Chaudhary

Saloni’s contributions at V3Cars combine journalistic rigour with artistic flair. She creates stories that inform, inspire and resonate with readers on multiple levels.

Her wide interests range from fashion to classic motorcycles and vintage cars. This variety in passion reflects in her ability to weave creativity into every piece she works on.

Saloni writes at the heart of V3Cars’ editorial work, combining her training in journalism with her creativity as a poet and storyteller.

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