PR NewsWire | Mar 24 2025
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SEOUL, South Korea, March 24, 2025 /PRNewswire/ — Hyundai Capital Services ("Hyundai Capital" or the "Company") announced today that its 12th financial subsidiary, Hyundai Capital Australia Pty. Ltd. ("HCAU"), obtained its inaugural credit rating of ‘A-‘ with a stable outlook from S&P Global Ratings ("S&P").
HCAU’s credit rating marks the first from one of the ‘Global Big Three’ credit rating agencies (S&P, Moody’s, Fitch Ratings) and follows on the launch of the business in October 2024. The credit rating is equivalent to that of Hyundai Motors, Kia, and Hyundai Capital. S&P’s assigned rating acknowledges HCAU’s standing as a core member of the Hyundai Motor Group ("HMG") in the Australian market.
In its report, S&P stated that "We view HCAU as a core subsidiary of Hyundai Capital and the wider group, and equalize the ratings with those on the parent. The ratings on HCAU reflect the company’s integral role in supporting HMG’s auto sales in the Australian market."
"With this credit rating from S&P, HCAU will further enhance its overall competitiveness in the Australian market with strong funding capabilities," said Hyundai Capital CFO & Senior Vice President Hyung Seok Daniel Lee. He added, "HCAU will offer differentiated financial products and services catered to the needs of the local customers."
Meanwhile, Hyundai Capital has the highest credit ratings, both domestic and global, among Korea’s non-bank financial institutions. The Company has secured ‘AA+’ ratings from Korea’s major credit rating agencies in 2023, followed by ‘A’ ratings from the Global Big Three last year.