Tata Motors Passenger Vehicles Limited has announced an update to its credit ratings, following a review by Crisil Ratings Limited. The ratings for long-term bank facilities and certain non-convertible debentures have been reaffirmed at AA+/Stable. Ratings for some other debentures were withdrawn following their transfer to Tata Motors Limited. The rating for short-term bank facilities and commercial papers is reaffirmed at A1+.
Credit Rating Reaffirmation
Tata Motors Passenger Vehicles Limited (formerly Tata Motors Limited) has received updated credit ratings from Crisil Ratings Limited, as of November 27, 2025. Several ratings have been reaffirmed, providing insight into the company’s financial stability.
Ratings Details
The following ratings have been reaffirmed:
Long-Term Bank Facilities and loan: AA+/ Stable (Reaffirm)
Non-Convertible Debentures:
- INE155A08431: AA+/ Stable (Reaffirm)
- INE155A08456: AA+/ Stable (Reaffirm)
- INE155A08472: AA+/ Stable (Reaffirm)
- INE155A08480: AA+/ Stable (Reaffirm)
Short-Term Bank Facilities and Commercial Papers: A1+ (Reaffirm)
Debenture Rating Withdrawals
Ratings for the following Non-Convertible Debentures have been withdrawn:
- INE155A08407: Withdrawn*
- INE155A08415: Withdrawn*
- INE155A08423: Withdrawn*
- INE155A08449: Withdrawn*
- INE155A08464: Withdrawn*
These Non-Convertible Debentures were transferred to Tata Motors Limited (Formerly TML Commercial Vehicles Limited) pursuant to a Composite Scheme of Arrangement.
Source: BSE
