Moody's ups Tata Motors

Moody's Investors Service said it upgraded to Ba3 from B2 its corporate family rating for Tata Motors Ltd., and changed the outlook to stable from positive.

The upgrade reflects the recovery in the operating performance of the Jaguar Land Rover business that exceeded expectations, Moody's said, and the company's fast growing Indian business remaining solidly profitable, which have resulted in a much improved leverage ratio for Tata Motors.

With several issues affecting the company's U.K. production facilities and workforce now settled, Jaguar Land Rover has probably re-established a sustainable and competitive business model, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.