Tata Motors Passenger Vehicles Limited and its subsidiaries have had their credit ratings revised by S&P Global Ratings. The long-term credit ratings for Tata Motors Passenger Vehicles Limited and Jaguar Land Rover Automotive Plc have been revised to Negative. TML Holdings Pte. Limited’s long-term credit ratings have also been revised to Negative.
Credit Rating Revision
S&P Global Ratings has revised the credit ratings for Tata Motors Passenger Vehicles Limited (formerly known as Tata Motors Limited) and its wholly-owned subsidiaries.
Tata Motors Passenger Vehicles Limited
The long-term credit rating has been revised to BBB/Negative from BBB/Stable.
Jaguar Land Rover Automotive Plc
The long-term credit rating has been revised to BBB-/Negative from BBB-/Positive.
TML Holdings Pte. Limited
The long-term credit rating has been revised to BBB/Negative from BBB/Stable. The senior unsecured debt (issue rating) has been reaffirmed at BBB-. The rating for Senior Unsecured Notes (issue rating) is BBB.
Source: BSE
