Fitch Keeps Hyundai Motor Rating, Outlook Unchanged

Fitch confirmed Hyundai Motor's (KRX:005380) long-term foreign-currency issuer default rating at A- with a stable outlook. The ratings agency on July 10 also affirmed the Korean automaker's short-term foreign-currency IDR at F1 and senior unsecured rating at A-. Hyundai and its Kia subsidiary are expected to maintain the strength of their brands and standing in key markets, Fitch said. Tariffs, a weaker economic environment and higher costs, however, are expected to weigh on near-term profitability.