Tata Motors Passenger Vehicles Ltd.
BSE: 500570 | NSE: TMPV
Large Cap | Automobiles - Passenger Cars
335.80
4.00 (1.21%) S&P raises Tata Motors’ rating on JLR performance
Date: 17-08-2016Global rating agency, Standard & Poor’s (S&P) has raised its long-term corporate credit rating on Tata Motors to a better grade with less vulnerability of non-payment based on the better performance of its British-arm Jaguar Land Rover (JLR).
The rating agency has raised its rating on the Mumbai-based company to ‘BB+’ from ‘BB’ with a stable outlook. S&P has also raised the rating on Tata Motors’ US-dollar-denominated senior unsecured notes to ‘BB+’ from 'BB'.
The rating agency has raised the rating on the back of improvement in Tata Motors’ competitive position following the better performance of its 100 per cent subsidiary, Jaguar Land Rover Automotive PLC (JLR).