Moody’s downgrades Tata Motors rating on JLR woes

Moody’s downgrades Tata Motors’ rating

Global rating agency Moody’s on Friday said it has downgraded the corporate family rating on Tata Motors due to the weakening credit metrics at Jaguar Land Rover (JLR). Moody’s Investor Services has downgraded Tata Motors rating to Ba2 with a stable outlook. Moody’s said that Tata Motors’ consolidated adjusted debt/EBITDA is likely to remain elevated over the 12-18 months.PTI

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