S&P Global Ratings has downgraded Tata Motors to more vulnerable to non-payment grade 'B' citing weaker-than-expected credit metrics owing to the disruptions and economic impact from the coronavirus pandemic.
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Covid-19 impact: S&P downgrades Tata Motors ratings, keeps outlook stable
The ratings agency further said it views positively the management's focus on conserving cash amid the changes in operating conditions
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On the possibility of further downgrading ratings on Tata Motors, S&P said "a downgrade to 'B-' would largely be the result of a deterioration in Tata Motors' liquidity position".
First Published: Apr 3 2020 | 10:11 AM IST
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