Financial Wire

Market Chatter: South Korean Credit Rating Firms Upgrade Hyundai Rotem's Rating

-- South Korean credit rating firms Korea Ratings, Korea Investors Service, and NICE Investors Service upgraded Hyundai Rotem's (KRX:064350) credit rating to AA- from A+, Yonhap News reported Monday.

The upgrades were based on the defense systems manufacturer's strong capability to repay debt, improved earnings, and financial stability, the report said, citing Hyundai Rotem.

Looking ahead, Hyundai Rotem plans to invest 1.8 trillion won in unmanned and manned defense systems and aerospace, the news report said.

Shares of Hyundai Rotem rose more than 1% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Market Chatter: South Korean Credit Rating Firms Upgrade Hyundai Rotem's Rating | Financial Wire