Fitch: Hyundai Capital's Ratings Unaffected by GECC's Divestment

January 6, 2016 1:01 AM

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(The following statement was released by the rating agency) SEOUL, January 05 (Fitch) Fitch Ratings says that Hyundai Capital Services Inc.'s (HCS, BBB+/Stable) ratings will not be affected by General Electric Capital Corporation's (GECC) divestment of just over half its stake in HCS.

HCS's Long-Term Issuer Default Rating (IDR) remains equalised with that of Hyundai Motor Company (HMC; BBB+), HCS's majority shareholder and the flagship company of Hyundai Motor Group. HCS is a captive auto financing company to the group. Fitch has treated GECC's minority stake in HCS as an opportu...

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