Kia 2005 Annual Report Download - page 71

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71
2005 Annual Report
Aaa
Aa
A1
A2
A3
Baa1
Baa2
Baa3
Ba1
Ba2
Ba3
B
Ca3
Ca
C
2001. 6. 1 2002. 7. 4 2003. 5.23 2004. 11.26
[Overseas]
AA
A
BBB+
BBB
BBB-
BB+
BB
BB-
B+
B
B-
CCC
CC
C
D
2001. 6. 8 2002. 6.17 2003. 7.22 2005. 11.2
Moody's
Long-Term
Standard & Poor's
Long-Term
BB-
BBB-
BB BB+
Baa3
Ba3 Ba3 Ba2
A1+
A1
A1-
A2+
A2
A2-
A3+
A3
A3-
B+
B
B-
C
D
2002. 7. 29 2002. 12.26 2003. 6.5 2004. 6. 18 2004. 12.15 2005. 6. 10 2005. 11. 10
A2
[Domestic]
A2 A2+
A1A1 A1 A1 AAA
AA+
AA-
AA
A+
A
A-
BBB+
BBB
BBB-
BB
CCC
CC
C
2002. 2.22 2002. 4.24 2003. 6. 5 2004. 6.18 2005. 5. 2 2005. 6.10 2005. 11. 10
Korea Investors Service
Short-Term
Korea Investors Service
Long-Term
AA
A+
AA- AA- AA-
A+
• Credit Ratings Trend
Credit Ratings
In Novem ber 2005, Standard & Poor’s raised its credit rating for Kia Motors from "BB+" to investm ent grade "BBB-". This was a m eaningful mom ent for us, as it
represented for the first tim e ever that KIA received m ultiple investm ent grades from overseas credit rating agencies (S&P: BBB-, Moody’s: Baa3).
This pivotal upgrade clearly indicates that the credit agencies recognize that the prospects for Hyundai Motor Group are looking brighter than ever; it’s a further
testament to the fact that we’ve established a firm status in the future w orld m arkets based on im provem ents in quality and brand im age. A stronger credit rating
will strengthen our global positioning: it will allow us to borrow from capital markets at more favorable rates and offset som e investm ent risks as w e pursue m ore
aggressive expansion plans.
In the case of dom estic credit ratings, w e have maintained a top level for both the long/ short term , (short-term credit rating: A1, long-term credit rating: AA-)