Fitch Upgrades Hyundai Auto Receivables Trust 2003-A

NEW YORK--Nov. 1, 20054, 2005--Fitch Ratings upgrades three classes of Hyundai Auto Receivables Trust 2003-A as follows:

-- Class B notes to 'AAA' from 'AA';

-- Class C notes to 'AA' from 'A+';

-- Class D notes to 'A' from 'BBB+'.

The rating upgrades are a result of increased available credit enhancement in excess of stressed remaining losses and the attainment of structural targets. Current principal allocation and expected future cashflows are also contributing factors.

The collateral continues to perform within Fitch's base case expectations. Currently, under the credit enhancement structure, the securities can withstand stress scenarios consistent with the upgraded rating categories and still make full payments of interest and principal in accordance with the terms of the documents.

As before, the ratings reflect the quality of Hyundai Motor Finance Company retail auto loan originations and servicing, and the sound financial and legal structure of the transaction.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 'www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.