Tata Motors Passenger Vehicles Ltd.

Credit rating agency, CARE has upgraded rating of Tata Motors’ Non-Convertible Debentures worth Rs 6600 crore to ‘AA+’ from ‘AA’. The rating upgrade takes into consideration the continued robust operating performance of Jaguar Land Rover (JLR), key brands of Tata Motors in global premier and luxury cars segment on the back of strong response for newly launched products such as new Range Rover Sport, new Range Rover, Jaguar F Type and variants of Jaguar XF & XJ translating into richer product mix and improvement in operating margins.

Tata Motors is India's largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.