For Quick Alerts
For Daily Alerts

S&P Revises Tata Motors Rating; Stock Trades Higher


Standard & Poor's Ratings Services has revised the rating of Tata Motors, manufacturers of the prestigious Jaguar LandRover range to stable from positive.

At the same time, Standard & Poor's affirmed its 'BB' long-term corporate credit rating and 'BB' long-term issue ratings on the U.S-dollar denominated senior unsecured notes issued by the company.

S&P Revises Tata Motors Rating; Stock Trades Higher
Tata Motors: Quotes, News
BSE 80.90BSE Quote3.5 (-4.33%)
NSE 80.90NSE Quote3.45 (-4.26%)
"We revised the outlook to stable as the lengthening slowdown in China and continued capital expenditure by Jaguar Land Rover Automotive Plc (JLR), Tata Motors' key wholly owned subsidiary, will result in negative free operating cash flow for Tata Motors. As a result, Tata Motors' ratio of funds from operations (FFO) to debt will be weaker at about 20%, instead of our previous expectation of above 30%," the rating agency said.

Shares of Tata Motors was trading higher by 1.65 per cent despite the revision. The shares have fallen steeply from levels of Rs 606 to Rs 293 on worries of a slowdown in its main market of China.

Read more about: sp tata motors
Story first published: Wednesday, September 30, 2015, 11:13 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more