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State Adjustment of Credit Card Fees to Have Negative Impact on Card Firms: Moody’s

State Adjustment of Credit Card Fees to Have Negative Impact on Card Firms: Moody’s

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 [...]

Moody’s Upgrades CNH Industrial’s Senior Unsecured Rating to Baa3

Moody’s Upgrades CNH Industrial’s Senior Unsecured Rating to Baa3

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. [...]

Moody’s Upgrades VIB’s Ratings to B1

Moody’s Upgrades VIB’s Ratings to B1

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 [...]

Aging Population to Pressure Long-term Credit Ratings for S. Korea: Moody’s

Aging Population to Pressure Long-term Credit Ratings for S. Korea: Moody’s

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 [...]

Moody’s: Planned Sale of Mobis Shares Positive for Hyundai Steel

Moody’s: Planned Sale of Mobis Shares Positive for Hyundai Steel

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 [...]

South Korea CDS Rises Drastically on Political Tensions

South Korea CDS Rises Drastically on Political Tensions

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 [...]

Moody’s Maintains Hyundai’s Rating Despite Weak Q1 Results

Moody’s Maintains Hyundai’s Rating Despite Weak Q1 Results

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 [...]

Moody’s Maintains Hyundai’s, Kia’s Ratings Despite Poor China Sales

Moody’s Maintains Hyundai’s, Kia’s Ratings Despite Poor China Sales

SEOUL, April 6 (Korea Bizwire) – Moody’s Investors Service said Thursday it will maintain the current ratings for Hyundai Motor Co. and Kia Motors Corp. despite sharp declines in auto sales in China. “Although Hyundai’s and Kia’s weak auto unit shipments from China will likely have a short-term negative impact on their profitability and cash [...]

Moody’s Maintains S. Korea’s Credit Rating at Aa2

Moody’s Maintains S. Korea’s Credit Rating at Aa2

SEJONG, March 22 (Korea Bizwire) – Global rating agency Moody’s Investors Service said Tuesday that it maintains its rating on South Korea at a record high of Aa2, citing its sound economic fundamental and reduced vulnerability to external risks, with its rating outlook also remaining stable. But the escalating tension stemming from North Korea’s recent provocations [...]

S. Korean Firms Suffer Massive Rating Downgrades

S. Korean Firms Suffer Massive Rating Downgrades

SEOUL, Nov. 8 (Korea Bizwire) — A large number of South Korean companies have suffered credit rating downgrades this year due to poor performances stemming from protracted sluggish demand, despite an upgrade in the country’s sovereign rating, market data showed Sunday. According to the data compiled by Korea Investors Service Inc., one of the three [...]