Monday 6 April 2020
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business-standard - 11 days ago

Moody s warns of downgrading Tata Motors

Moody s Investors Service has placed the ratings on Tata Motors on review for a possible downgrade. The review, which will be completed over the next 90 days, is on the Ba3 corporate family rating and Ba3 senior unsecured debt rating,Moody s said in a statement. The outlook on ratings under review has been revised from negative, Moody s said. We expect to conclude the review within 90 days, based on a review of the impact of Covid-19 on the operations of Tata Motors, including its supply impact on demand in key global markets and government s containment measures including some government support as well as its countermeasures and liquidity profile. On the rationale for a possible downgrade, Moody s cited the rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines, which are creating a severe and extensive credit shocks across many sectors, regions and markets. The combined credit effects of ...

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