Credit rating agency -- Moody's Investors Service has downgraded the rating outlook of Motherson Sumi Systems to negative on account of expected weak financial performance in ongoing fiscal due to the coronavirus pandemic. The rating agency has changed the outlook on the rating to 'negative' from 'ratings under review'. It added that this rating action concludes the review for downgrade that was initiated on March 27, 2020. Moody's has confirmed ‘Ba1’ corporate family rating (CFR) for the company.
Motherson Sumi Systems, including its subsidiaries and JVs is one of the leading manufacturer of automotive wiring harnesses, mirrors for passenger cars and a leading supplier of plastic components and modules to the automotive industry.
