SEOUL, South Korea, Aug. 26, 2024 /PRNewswire/ -- Hyundai Motor Company (Hyundai Motor) and Kia Corporation (Kia) have achieved the significant milestone of securing upgraded ratings in 2024 from all three major global credit rating agencies: S&P Global (S&P), Moody's Investors Service (Moody's) and Fitch Ratings (Fitch).
Hyundai Motor and Kia's ratings from S&P were upgraded last week to 'A-', following Fitch Ratings' raise to 'A-' and Moody's upgrade to 'A3' for both brands in February.
These upgrades solidify both Hyundai Motor and Kia's positions as global mobility industry leaders, putting the Hyundai Motor and Kia brands on par with Mercedes-Benz, Toyota and Honda – the other major global mobility firms to receive 'A-grade' rankings from the top three global credit rating agencies.
Hyundai
Kia
Aug '24
Aug '24
Previous
Rating
Previous
Rating
S&P Global
A-
(Stable)
A-
(Stable)
BBB+
(Positive)
BBB+
(Positive)
Moody's Investor
Service
A3
(Stable)
A3
(Stable)
Baa1
(Positive)
Baa1
(Positive)
Fitch Ratings
A-
(Stable)
A-
(Stable)
BBB+
(Positive)
BBB+
(Positive)
Robust performance, flexible capabilities
According to S&P, Fitch and Moody's, both companies' ratings upgrades were driven by their robust financial performance, characterized by strong predicted double-digit profit margins and cash flow. Improved product competitiveness of the brands' diverse vehicle lineups, robust market positioning relating to electrification strategy, and a flexible production approach to meet changing global demands were also key contributing factors.
S&P outlined solid profit and cash flow following "three years of marked enhancement in profitability starting in 2021", adding, "Its solid portfolio of hybrid and BEVs should help support the company's competitive position amid the transition to electrification."
Fitch Ratings previously highlighted Hyundai Motor and Kia's improved brand strength and strong position in key markets, citing "geographical and product diversification, improved profitability and cash generation" as contributing factors to its upgrade.
Moody's Investors Service previously emphasized continued profitability and a strong balance sheet, among other factors.
More information about Hyundai Motor Group can be found at:
http://www.hyundaimotorgroup.com or Hyundai Media_Hubhttps://www.hyundai.com/worldwide/en/newsroom, Kia Global Media Center, Genesis Newsroom
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Hyundai Motor Group Companies' Ratings Upgraded by Global Top Rating Agencies
LOS ANGELES, Sept. 13, 2024 /PRNewswire/ -- Azazie, the leading DTC e-tailer for all things bridal and occasion wear, is thrilled to announce they have joined forces with Christian Siriano Bridal for an upcoming collaboration. As part of this collaboration, Siriano exclusively debuted three pieces from the collection at his New York Fashion Week runway show on September 6th, 2024, offering a first look at what promises to be a breathtaking and timeless collection.
After an intimate line review of the entire collection at Siriano's design studio in Manhattan just a month ago, Siriano was so blown away by the quality of the dresses - that he was certain he wanted to include a few hero pieces in his Spring Ready-To-Wear Runway Show, one bridal and two bridesmaids looks. This was a last-minute add to his show and Azazie was beyond thrilled by the opportunity. The collaboration not only highlighted Siriano's appreciation for Azazie's craftsmanship but also brought a fresh and unexpected element to the runway. The team at Azazie worked around the clock to ensure that each piece was runway-ready, and the final reveal was met with widespread acclaim from both industry insiders and fashion enthusiasts. Sitting front row included Selma Blair, Christina Hendricks, Tiffany Haddish, Lil' Kim, Cyndi Lauper, Darren Criss, Alex Newell, Nava Mau, and Maia Reficco, respectively.
The full Christian Siriano for Azazie collection will officially launch in October 2024, during New York Bridal Fashion Week, offering an array of designs for the modern, fashion-forward bride and her bridal party. This unique partnership brings Siriano's signature high-fashion aesthetics to the bridal world, offering brides and bridesmaids haute couture styles at a more accessible price point.
"Bridal is such a personal and special experience for everyone, and I wanted to create a collection that feels both luxurious and accessible," says Siriano. "Teaming up with Azazie allowed me to bring couture-level craftsmanship and design to a wider audience, without compromising on quality or beauty."
The Christian Siriano Bridal for Azazie collection will be available exclusively on Azazie's official website (www.azazie.com). Prices will be under $1,000, and offers sizes ranging from 0 - 30. To learn more and obtain launch updates via email please visit HERE.
About Azazie:
Azazie is the leading DTC e-tailer for bridal gowns, bridesmaid dresses, special occasion wear, and accessories, offering high-quality gowns at affordable prices. Based in the tech capital of Silicon Valley, Azazie is disrupting the traditional bridal industry while garnering high ratings from customers and review sites alike. With 200+ bridal gowns and 400+ bridal party dresses in over 80 colors, Azazie is committed to body-positive fashion, offering all dresses from size 0-30, cut and sewn to order like expensive bespoke designs.  Visit the website at  www.azazie.com.
About Christian Siriano:
Award-winning CFDA designer Christian Siriano has established himself as a tour de force in the fashion world since launching his eponymous collection in 2008 following his studies in London under Vivienne Westwood and Alexander McQueen. Siriano's designs have been worn by today's biggest names including current FLOTUS Dr. Jill Biden, former FLOTUS Michelle Obama and VPOTUS Kamala Harris, Angelina Jolie, Oprah, Zendaya, Ariana Grande, Julianne Moore, Lady Gaga, Tiffany Haddish, Billy Porter, Cardi B, Whoopi Goldberg, Julia Roberts, and Jennifer Coolidge, to name but a few.
Having just celebrated the brand's 15 year anniversary, the Siriano design studio continues to celebrate beauty and diversity in this ever-changing fashion industry. As a result, Christian's work has been featured in a multitude of prestigious museum exhibits including his first ever solo work retrospective titled "Christian Siriano: People Are People" at SCAD in Savannah and Atlanta, respectively, as well as The Memphis Brooks Museum of Art. He's also contributed pieces to Kensington Palace's largest exhibition to date titled "Crown to Couture," the "Fashioning Masculinities: The Art of Menswear" exhibition at the V&A, "Grit to Glamour" at the Crystal Bridges Museum of American Art and The MET Costume Institute where he broke a Met Gala record for having three separate looks featured in the 2021 exhibit "In America: A Lexicon of Fashion." Christian himself was also named among Time's 100 Most Influential People in 2018 for his leading contributions to body diversity on the runway and red carpet, was a member of Forbes' 30 Under 30 class of 2015, and was the youngest person to ever appear on Crain's "40 Under 40" list at age 24.
Apart from his thriving fashion empire, Christian has been the host and mentor for Bravo's hit series "Project Runway" and recently added best-selling author (Dresses to Dream About and Dresses to Dream About: Deluxe Edition) and interior designer (Siriano Interiors) to his impressive list of credits. This past Spring saw the launch of the second collection of his furniture line and this Fall he'll release a new book called CHRISTIAN SIRIANO: THE NEW RED CARPET.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Christian Siriano Partners with Azazie for Affordable Couture Bridal Collection - Showcasing Exclusive Looks at NYFW Spring '25
Christian Siriano Partners with Azazie for Affordable Couture Bridal Collection - Showcasing Exclusive Looks at NYFW Spring '25
