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Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/603215</link><guid isPermaLink="false">spcred/603215</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><title>Hyundai Motor Co.</title><description>The latest Full Report from S&amp;P</description><pubDate>9/20/2007 3:00:00 AM</pubDate><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:type><spcred:price xmlns:spcred="http://www.alacra.com/spcred">400</spcred:price><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">603215</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Korea</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Automobile Manufacturers</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Asia</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Financial Institutions</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Asset-Backed Securities</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Automotive</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Capital Goods</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">Dominant position in Korea's automobile market Strengthening global market position, backed by improving quality and brand image Well-diversified geographic revenue base Favorable cost position Aggressive group expansion strategy and capital expenditures increasing debt burden Exposure to foreign exchange rate fluctuations Unstable relationship with labor union causing inefficiency Possibility of support to weak group companies The rating on Hyundai Motor Co. (Hyundai; BBB-/Stable/--) reflects the company's dominant position in Korea's automobile market, improving global market position, geographically diverse revenue base, and favorable cost position. The rating is constrained by the group's aggressive expansion strategy, an increasing debt burden caused by large capital expenditures, heavy exposure to foreign exchange rate fluctuations, an unstable relationship with labor unions, and the possibility of Hyundai</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">KOR</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">449187</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">25102010 251020 2510 25</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Hyundai Motor Co.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">310520</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">ASIA</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">0538@KS</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">FULL</spcred:index_entry_reporttype><spcred:index_entry_seccountry xmlns:spcred="http://www.alacra.com/spcred">KOR</spcred:index_entry_seccountry><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">493738</spcred:index_entry_seccusip><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">25102010 251020 2510 25</spcred:index_entry_secgics><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">40202010 402020 4020 40</spcred:index_entry_secgics><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">25101010 251010 2510 25</spcred:index_entry_secgics><spcred:index_entry_secissuer xmlns:spcred="http://www.alacra.com/spcred">Hyundai Card Co. Ltd.</spcred:index_entry_secissuer><spcred:index_entry_secissuer xmlns:spcred="http://www.alacra.com/spcred">Hyundai Capital Services Inc.</spcred:index_entry_secissuer><spcred:index_entry_secissuer xmlns:spcred="http://www.alacra.com/spcred">Hyundai Mobis Co. Ltd.</spcred:index_entry_secissuer><spcred:index_entry_secissuer xmlns:spcred="http://www.alacra.com/spcred">Kia Motors Corp.</spcred:index_entry_secissuer><spcred:index_entry_secissuerid xmlns:spcred="http://www.alacra.com/spcred">359611</spcred:index_entry_secissuerid><spcred:index_entry_secissuerid xmlns:spcred="http://www.alacra.com/spcred">416142</spcred:index_entry_secissuerid><spcred:index_entry_secissuerid xmlns:spcred="http://www.alacra.com/spcred">411156</spcred:index_entry_secissuerid><spcred:index_entry_secissuerid xmlns:spcred="http://www.alacra.com/spcred">351837</spcred:index_entry_secissuerid><spcred:index_entry_secreg xmlns:spcred="http://www.alacra.com/spcred">ASIA</spcred:index_entry_secreg><spcred:index_entry_secreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_secreg><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">HYUCAP</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">012330@KS</spcred:index_entry_secticker><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">0027@KS</spcred:index_entry_secticker><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">FI</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">ABS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Automotive</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Capital</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/603216</link><guid isPermaLink="false">spcred/603216</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><title>Summary: Hyundai Motor Co.</title><description>The latest Summary from S&amp;P</description><pubDate>9/20/2007 3:00:00 AM</pubDate><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">603216</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Korea</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Automobile Manufacturers</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Asia</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Capital Goods</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Automotive</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The rating on Hyundai Motor Co. (Hyundai; BBB-/Stable/--) reflects the company's dominant position in Korea's automobile market, improving global market position, geographically diverse revenue base, and favorable cost position. The rating is constrained by the group's aggressive expansion strategy, an increasing debt burden caused by large capital expenditures, heavy exposure to foreign exchange rate fluctuations, an unstable relationship with labor unions, and the possibility of Hyundai lending support to weak group companies. In addition to Hyundai's strong market position in the domestic market, the company has made good headway in key overseas markets, including North America, Europe, and China. Hyundai has demonstrated improved quality and boosted its brand image in recent years according to various surveys and reviews; the company</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">KOR</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">449187</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">25102010 251020 2510 25</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Hyundai Motor Co.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">310520</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">ASIA</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">0538@KS</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Capital</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Automotive</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item></channel></rss>