Tata Motors Passenger Vehicles Ltd.

Rating agency Fitch has affirmed Tata Motors’ long-term foreign currency issuer default rating at a speculative grade ‘BB’ with a stable outlook.

The rating agency has affirmed the said rating due to the sustained stable financial performance of JLR and Tata Motor’s automobile business and market leadership in the Indian commercial vehicle market.

Tata Motors’ foreign currency issuer default rating continues to benefit from a one notch uplift on account of the potential support from the Tata group as the firm continues to benefit from its strategic importance to the group.