Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
22 September, 2018 05:14 IST
Fitch affirms Tata Motors at BB+; Outlook Stable
Source: IRIS | 27 Apr, 2018, 12.18PM
Comments  |  Post Comment

Fitch Ratings has affirmed India-based Tata Motors (TML) Long-Term Issuer Default Rating at 'BB+'. The Outlook is Stable.

TML's rating, which includes a one-notch uplift from its standalone rating of 'BB' on its linkage with Tata Sons (TSOL), reflects its leading position in India's commercial-vehicle market and the passenger-vehicle business, which is recovering after the success of new product launches in recent years.

TML's rating also reflects its 100%-owned subsidiary Jaguar Land Rover Automotive plc's (JLR, BB+/Stable) strong positioning in the premium segment and a financial profile that will remain solid even after considering substantial investments for capacity expansion and new technologies over the next few years. JLR's EBITDA accounted for more than 85% of TML's consolidated EBITDA in the fiscal year ended 31 March 2017 (FY17).

The Stable Outlook reflects Fitch's expectations of gradually improving profitability and strong financial flexibility, which will help to meet significant investment requirements, especially in the JLR business, without any liquidity concerns and support TML's leverage at a level commensurate with the current rating.

Shares of the company gained Rs 2.55, or 0.77%, to trade at Rs 332.85. The total volume of shares traded was 233,443 at the BSE (12.07 p.m., Friday).





Tata Motors Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
ITD Cementation India wins orders worth Rs 8.45 bn - 21-Sep-2018 15:44
Emami Paper Mills to invest around Rs 20 bn in Gujarat - 21-Sep-2018 15:03
Tijaria Polypipes receives single order worth Rs 353 mn - 21-Sep-2018 13:13
Infosys to open technology and innovation hub in Arizona - 21-Sep-2018 13:08
Pennar Group bags orders worth Rs 1.81 bn - 21-Sep-2018 13:05
TCS recognized as leader in finance and accounting digital augmentation suite - 21-Sep-2018 12:30
Sun Pharma announces Australian TGA approval of ILUMYA - 21-Sep-2018 12:06
Fitch revises outlook on Tata Motors to negative; affirms at BB+ - 21-Sep-2018 10:55
SBI, QCI sign MoU on Zero Defect Zero Effect Certification for MSMEs - 21-Sep-2018 09:50
TCS partners with The Training Room, UK - 21-Sep-2018 09:46
Strides Pharma Science gets ACCC approval for merger of Arrow and Apotex Australia - 20-Sep-2018 10:15
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer