2023-06-27 23:40:00
Hyundai Card announced on the 28th that Standard & Poor’s (S&P), one of the world’s top three credit rating agencies, upgraded Hyundai Card’s group status by one notch and maintained its credit rating outlook at ‘BBB Stable’. .
Hyundai Card’s rating status within the group is upgraded for the first time since 2006 when it acquired the S&P rating.
S&P, through a related report on the 23rd (local time), upgraded Hyundai Card’s evaluation status within the group from 4th grade ‘MSI (Moderately Strategically Important, somewhat strategically important subsidiary)’ to 3rd grade ‘SI (Strategically Important) significant subsidiaries)’.
S&P noted that Hyundai Card is strengthening its role in the future strategy of Hyundai Motor Group through the ICP (In-Car Payment Service) business through credit cards. In addition, Hyundai Motor Company (hereafter referred to as Hyundai Motor Company) and Kia are contributing to vehicle sales by operating a car-only credit card (PLCC) and promoting various collaborations with Hyundai Capital, etc., and business ties with the group are strengthening. evaluated as
In fact, PLCC, operated by Hyundai Card along with Hyundai Motors and Kia Motors, is gaining so much popularity that the cumulative issuance exceeded 2 million at the end of June last year. The ‘Hyundai EV Card’ and ‘Kia Members Electric Vehicle Credit Card’, which are credit cards specialized for electric vehicles in line with the eco-friendly car trend, are also on the rise. In December of last year, together with Hyundai Motor Company, it introduced ‘e hi-pass’, which enables toll road payment without a physical card for the first time in the domestic card industry.
Meanwhile, Hyundai Card’s credit rating remained in place at BBB (Stable). S&P explained that Hyundai Motor Company maintained its rating because it did not receive additional points in the evaluation of affiliate support in a situation where it was unable to upgrade its rating.
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