Left Menu
Development News Edition

S&P downgrades JLR, Tata Motors credit ratings

S&P downgrades JLR, Tata Motors credit ratings
Similarly, the issuer credit rating and senior unsecured notes rating of JLR have been revised to 'BB-/Negative Watch' from 'BB' due to weaker profitability, it added. (Image Credit: Twitter)

Homegrown auto major Tata Motors Tuesday said S&P Global Ratings has downgraded the credit rating of the company and its British arm Jaguar Land Rover Automotive Plc.

Tata Motors' issuer credit rating and senior unsecured notes rating have been revised to 'BB-/negative watch' from the existing 'BB' due to weaker profitability at JLR, the company said in a regulatory filing.

Similarly, the issuer credit rating and senior unsecured notes rating of JLR have been revised to 'BB-/Negative Watch' from 'BB' due to weaker profitability, it added.

As per S&P, a 'BB' rating indicates an entity's possibility of facing major ongoing uncertainties or exposure to adverse business, financial, or economic conditions that could lead to the obligor's inadequate capacity to meet its financial commitments on the obligation.

Last month, Moody's Investors Service had changed Tata Motors' rating outlook to negative from stable, citing expectations of the weak operating performance of JLR.

In the second quarter ended September 30, Tata Motors reported a consolidated net loss of Rs 1,009 crore. JLR's revenue declined 11 per cent to 5.6 billion pounds during the quarter.

(With inputs from agencies.)



JNU Administration's 100-meter challenge before JNUSU

For the first time in its history, Jawaharlal Nehru University JNU Administration is seeking permanent deployment of local police to keep protesting students at 100 meters away from the Administrative Block. It would be interesting to see h...

Sentiment Analysis of Twitter users during COP25: Governments losing trust on Climate Action

Sentiment analysis of Twitter users during COP25 in Madrid, being held from December 2-13, shows widespread fear on climate change due to global warming but almost no trust on governments in meeting the emission targets. In the analysis the...

These innovators are making humanitarian response more efficient

These alarming trends prompt a call for the world to not only address the ongoing crisis but also to adopt innovative approaches to fulfill the growing humanitarian needs in such emergencies. ...

Hyderabad Encounter: A sentiment analysis of public mood on day of encounter

Sentiment analysis of twitter users revealed that they showered salutes on Hyderabad police for eliminating alleged gang rapists of the veterinary doctor but only a few believe in cops version of successive events leading to encounter....


Latest News

GLOBAL MARKETS-Shares gain, oil rises, but caution lingers on U.S.-China deal

Global equity markets and oil prices rose on Friday after China and the United States agreed on an initial trade deal that rolls back some U.S. tariffs in exchange for Chinas increased purchase of farm goods, cooling a contentious trade war...

UPDATE 2-Blackwater founder Erik Prince held secret talks with top Venezuelan official -sources

Erik Prince, the controversial private security executive and prominent supporter of U.S. President Donald Trump, made a secret visit to Venezuela last month and met Vice President Delcy Rodriguez, one of socialist leader Nicolas Maduros cl...

UPDATE 2-China to buy $200 bln of additional U.S. goods over two years - USTR

China has agreed to buy 200 billion worth of additional U.S. goods and services over the next two years as part of a phase one trade pact to be signed in early January, U.S. Trade Representative Robert Lighthizer told reporters on Friday. A...

UPDATE 1-U.S. Supreme Court takes up Trump bid to shield financial records

The U.S. Supreme Court on Friday agreed to hear President Donald Trumps appeals in three separate cases to prevent his financial records, including tax returns, being handed over to Democratic-led House of Representatives committees and a N...

Give Feedback