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S&P downgrades Tata Motors, subsidiary JLR credit rating for weak profits

The rating agency cited weakness in profitability of JLR as the main reason for downgrading credit rating of Tata Motors and its British arm.

Press Trust of India  |  New Delhi 

tata motors

S&P Global Ratings has downgraded the credit rating of and its wholly-owned subsidiary (JLR), citing weak profitability, the company said Thursday.

"We would like to inform that based on S&P Global Ratings, the credit rating of the company and Automotive Plc has been downgraded," the company said in a regulatory filing.

The rating agency cited weakness in profitability of JLR as the main reason for downgrading credit rating of and its British arm.

S&P cut its rating on senior unsecured notes of JLR and to 'B+' from 'BB-'. Shares of Tata Motors Thursday ended 0.41 per cent up at Rs 170.60 apiece on the BSE. PTI MSS RVK

First Published: Thu, March 28 2019. 19:03 IST
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