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[Hyundai Elevator]
Hyundai Elevator Moves One Step Up in the Corporate Issuer Ratings
2019-06-24
- Moved one step up from A-/Positive to A/Stable in NICE Information Service evaluation
- Maintained leading market position and excellent sales profitability, excellent financial stability and flexibility
Hyundai Elevator announced on the 24th that its corporate issuer rating has moved one step up from A-/Positive to A/Stable in the NICE Information Service evaluation. Through this upgrade, Hyundai Elevator has been able to resolve the mismatch between the existing Korea Ratings (A) and NICE Information Service (A-).
According to NICE Information Service, the main reasons behind the upgrade was △ the market position of the domestic elevator industry, △ excellent sales profitability due to the oligopolistic market structure, and △excellent financial stability and flexibility.
To be specific, Hyundai Elevator is “maintaining a leading market position in Korea with 41~45% market share after 2010, with excellent business stability by gradually expanding its business foundation through overseas expansion” and “they are expected to maintain an excellent level of sales profitability based on an increase in the proportion of the maintenance category with high profitability.”
Moreover, in terms of the ratings forecast, “short- and mid-term spending will increase due to the construction of new factories in China and Chungju, but Hyundai Elevator will be able to maintain its excellent sales profitability and financial stability based on the oligopolistic market structure and excellent market position.”
- Maintained leading market position and excellent sales profitability, excellent financial stability and flexibility
Hyundai Elevator announced on the 24th that its corporate issuer rating has moved one step up from A-/Positive to A/Stable in the NICE Information Service evaluation. Through this upgrade, Hyundai Elevator has been able to resolve the mismatch between the existing Korea Ratings (A) and NICE Information Service (A-).
According to NICE Information Service, the main reasons behind the upgrade was △ the market position of the domestic elevator industry, △ excellent sales profitability due to the oligopolistic market structure, and △excellent financial stability and flexibility.
To be specific, Hyundai Elevator is “maintaining a leading market position in Korea with 41~45% market share after 2010, with excellent business stability by gradually expanding its business foundation through overseas expansion” and “they are expected to maintain an excellent level of sales profitability based on an increase in the proportion of the maintenance category with high profitability.”
Moreover, in terms of the ratings forecast, “short- and mid-term spending will increase due to the construction of new factories in China and Chungju, but Hyundai Elevator will be able to maintain its excellent sales profitability and financial stability based on the oligopolistic market structure and excellent market position.”