SEOUL, Feb. 19 (Korea Bizwire) — Global rating agency Moody’s Investors Service on Friday upgraded credit ratings of LG Electronics Inc. for the first time in seven years after the South Korean tech giant reported record earnings last year. Moody’s raised the ratings of LG Electronics to Baa2 from Baa3, with its ratings outlook remaining [...]
ABIDJAN, Côte d’Ivoire, Nov. 14 (Korea Bizwire) — Moody’s Investor Service has affirmed the African Development Bank’s AAA credit rating, with a stable outlook. “The credit profile of African Development Bank (AfDB) is supported by the bank’s robust capital buffers and superior risk management, which mitigate risks,” Moody’s Investor Service said in an annual credit [...]
HO CHI MINH CITY, VIETNAM, April 24 (Korea Bizwire) – Moody’s Investors Service has reaffirmed the B1 credit rating for the Ho Chi Minh City Development JSC Bank (HDBank) amid a challenging market situation due to the impact of the Covid-19 pandemic and social distancing orders from the Government. In its press release, Moody’s said [...]
SEOUL, Dec. 4 (Korea Bizwire) – The South Korean government’s plan to reduce credit card transaction fees for smaller business owners will affect the bottom line of local card firms, a global ratings agency has said. Late last month, the government announced its plans to expand the number of business owners eligible for preferential credit [...]
London, Dec. 3 (Korea Bizwire) - CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announces that on December 3, 2018, Moody’s Investors Service upgraded the senior unsecured ratings of CNH Industrial N.V. and its subsidiaries CNH Industrial Capital LLC and CNH Industrial Finance Europe S.A. from Ba1 to Baa3. The outlook is stable. CNH Industrial N.V. [...]
HANOI, VIETNAM, Nov. 9 (Korea Bizwire) - Moody’s Investors Service has just upgraded the baseline credit assessment (BCA) and adjusted BCA of Vietnam International Bank (VIB) to B1 and Counterparty Risk Assessment (CRA) to Ba3. Previously, right after upgrading the Government of Vietnam’s long-term issuer and senior unsecured ratings to Ba3 from B1, Moody’s upgraded the long-term [...]
SEOUL, Nov. 1 (Korea Bizwire) — The aging of the workforce will put pressure on South Korea’s economic and fiscal strength and affect its long-term sovereign credit profiles, a global ratings agency has said. In its latest report, released Wednesday, Moody’s Investors Service said the credit ratings of South Korea and Japan will come under [...]
SEOUL, March 29 (Korea Bizwire) – Moody’s Investors Service said Thursday that Hyundai Steel Co.’s plan to sell its 5.7 percent stake in auto parts maker Hyundai Mobis Co. is credit positive for the steelmaker. But the planned stake sale will not have an immediate impact on Hyundai Steel’s Baa2 stable rating, the global ratings agency said in a statement. “The share sale if it goes ahead as planned will generate after-tax cash proceeds of [...]
SEOUL, Oct. 24 (Korea Bizwire) – South Korea’s credit default swap has risen by over 25 basis points since the beginning of this year, reaching nearly 70 bps, amid growing political tensions surrounding North Korea and the U.S.’s hardline stance. According to data by financial information firm Markit and Yonhap Infomax, the five-year credit default [...]
SEOUL, April 27 (Korea Bizwire) – Global ratings agency Moody’s Investors Service said Thursday it will maintain the current Baa1 rating for Hyundai Motor Co., South Korea’s top automaker, despite its weak first-quarter earnings. On Wednesday, the carmaker reported a 21-percent on-year drop in first-quarter net profit due to weak sales in China and emerging [...]