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Tata Motors falls as S&P cuts credit rating on JLR woes


(Reuters) - Shares of Tata Motors Ltd fell on Wednesday after S&P cut credit rating for the automaker and its British luxury car unit Jaguar Land Rover (JLR), citing weaker-than-expected profitability at JLR.Shares declined as much as 3.2 percent to 170.10 rupees, with more than 4.1 million shares changing hands by 0440 GMT, compared with their 30-day average of 16.2 million shares.S&P Global Ratings on Tuesday cut its rating on issuer credit and senior unsecured notes to 'BB-' from 'BB' for both ...

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First Published: Wed, December 05 2018. 10:26 IST