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CRISIL downgrades rating of Tata Motors to 'AA-' on JLR outlook

The long term rating of the company has been downgraded from 'AA' to 'AA-' with negative outlook, Tata Motors said in a regulatory filing

Press Trust of India  |  New Delhi 

TATA, TATA group
Tata Motors

CRISIL on Wednesday downgraded the rating of by a notch to 'AA-' on weakening of outlook on the business risk profile of (JLR).

The long term rating of the company has been downgraded from 'AA' to 'AA-' with negative outlook, said in a regulatory filing.

The rating action is based on the weakening of outlook on the business risk profile of JLR, it said.

Earlier this week, global ratings agency S&P reaffirmed Tata Motors' long-term issuer and issue credit ratings at 'B+' and kept the outlook negative due to high cash burn at its British arm and geopolitical risks.

First Published: Wed, August 14 2019. 22:10 IST
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