Moody's: Hyundai Mobis' and Hyundai Glovis' ratings unaffected by planned group reorganization
Moody's Investors Service says that Hyundai Motor Group's reorganization plan will unlikely have an immediate impact on Hyundai Mobis Co., Ltd.'s and Hyundai Glovis Co., Ltd.'s Baa1 issuer ratings and stable rating outlooks. "Although the spin-off will weaken to some extent Hyundai...Glovis is engaged in the business of freight transport arrangement including overseas and local logistics. Co. is also engaged in the automobile completely knocked down components and used car distribution businesses.
Hyundai Mobis is engaged in the auto parts business, mainly on manufacturing parts and modules, for car production, and for after-sales services, overseas business, environmental services, and others. Co. maintains 5 business facilities including steel making facilities; press; crane; plant and airport equipment.
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