▲ This photo, provided by Hyundai Rotem Co., shows the K2ME, the Middle East variant of the company's K2 battle tank, at a rollout ceremony for the model held in Changwon, about 300 kilometers southeast of Seoul, on March 26, 2026. (PHOTO NOT FOR SALE) (Yonhap)

Hyundai Rotem-credit rating

Hyundai Rotem's credit rating upgraded to AA- by domestic rating appraisal firms

SEOUL, April 20 (Yonhap) -- Hyundai Rotem Co., the defense systems manufacturing arm of Hyundai Motor Group, said Monday its credit rating has been raised by all three major domestic appraisal agencies, citing the company's improved profitability and financial stability.

According to Hyundai Rotem, Korea Ratings, Korea Investors Service and NICE Investors Service have all upgraded the company's rating recently from A+ to AA-.

The company said the upgrade was reflective of its strong debt repayment capability, improved earnings and financial stability.

Hyundai Rotem secured an order backlog of around 30 trillion won (US$20.3 billion) last year and posted its first-ever annual operating profit of 1 trillion won.

Korea Investors Service assessed the company as having established a stable long-term earnings base by securing high-value orders in its defense solutions segment.

Hyundai Rotem said it plans to invest 1.8 trillion won in areas such as unmanned and manned defense systems and aerospace, while maintaining financial stability based on its strong cash flow capacity.

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