Moody’s Investors Service said Monday that Hyundai Steel’s robust operating results for 2014 proved a stable outlook.

“Hyundai Steel’s reported operating income for the full year ended Dec. 31, 2014, doubled year-on-year, resulting in a material improvement in its financial leverage,” said Chris Park, Moody’s senior vice president.

“Moody’s had expected in December 2014 that Hyundai Steel would record strong full-year results. We therefore changed the outlook on the company’s ratings to stable from negative at that time,” Park said.

According to Hyundai Steel, its reported operating income grew 101 percent year-on-year to 1.4 trillion won on a standalone basis.

Moody’s added that the company’s earnings will grow only modestly over the next couple of years, and that it will lower its overall debt level through moderate levels of capital expenditure.

(monicasuk@heraldcorp.com)