Hyundai Motor Company is proud to announce the positive news of its corporate credit rating upgrade to A3 by Moody's Investors Service (Moody’s), with a stable outlook. This upgrade signifies Hyundai Motor's sustained profitability and enhanced balance sheet, driven by its strengthened product competitiveness and robust free cash flow generation.

According to Moody’s report, the decision to upgrade Hyundai Motor's corporate rating reflects the company's continued profitability amidst challenging global economic conditions. Moody’s highlighted Hyundai Motor’s strong position in the Korean automotive market, competitiveness in key overseas markets, geographic diversification, low financial leverage, and robust balance sheet as key factors contributing to the upgrade.

Seung Jo Lee, Senior Vice President, CFO, and Head of Planning & Finance Division at Hyundai Motor Company, expressed gratitude for the credit rating upgrade, emphasizing its significance in acknowledging the company's stable financial foundations. Lee stated, "This credit rating upgrade is significant and acknowledges our stable financial foundations amid challenging global economic conditions. Hyundai Motor will pursue more substantial growth in the future, focusing efforts towards achieving its business goals for this year."

In addition to Hyundai Motor's credit rating upgrade, Moody’s also elevated the corporate rating of Kia Corporation and Hyundai Mobis from Baa1 with a positive outlook to A3 with a stable outlook. This reflects the overall strength and resilience of the Hyundai Motor Group, further solidifying its position in the global automotive industry.

As Hyundai Motor continues to innovate and thrive in the automotive sector, this credit rating upgrade serves as a testament to the company's commitment to excellence and financial stability. For more information and updates on Hyundai Motor Company, visit their official website.

For more information, visit www.hyundai.com.