HONG KONG -- The global credit appraiser Moody's Investors Service said Tuesday it has upgraded its rating for bonds issued by Samsung Mobile Display Co., a South Korean display maker, by three notches to A3.

Moody's said the upgrade is based on the high willingness and financial capability of its parent company Samsung Electronics Co. to render financial support to the company in case of need.

The credit rating agency said the company has high strategic importance within Samsung Group's value chain.

Samsung Electronics' track record of providing equity injection to SMD as well as the parent's strong financial capability, is reflected in its A1 rating and its materially larger scale than SMD, it said.

It expected that the company will make steady progress in improving cost and technological competitiveness and maintain a strong market position in its business in Active Matrix Organic light emitting diode. (Yonhap News)