S&P upgrades Tata Steel, Tata Motors, JLR ratings over Tata Sons' influence

The upgrades reflect the view that the credit profiles of the Tata Group entities are strengthened by their importance to Tata Sons, with potential for financial support

Standard and Poor’s (S&P) has upgraded the global ratings for Tata Steel, Tata Motors and Jaguar Land Rover Automotive PLC (JLR) following the reassessment of influence and potential for extraordinary financial support from Tata Sons to group entities.

It revised the rating for Tata Steel and its 100 per cent-owned financing subsidiary ABJA Investment Co from “BB” to “BBB-“.  The outlook is stable. Also, it upgraded the rating for Tata Motors and its 100 per cent subsidiary TML Holdings from “B” to “BB-“ with a stable outlook. JLR’s rating has been revised from “B” to “B+”. The outlook is stable.