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Prospect News home > News index > List of issuers T > Headlines for Tata Motors Ltd. > News item
Published on 7/8/2008 in the Prospect News Convertibles Daily and Prospect News Emerging Markets Daily.

S&P keeps Tata Motors on watch

Standard & Poor's said it kept its BB corporate credit rating on Tata Motors Ltd. on CreditWatch with negative implications, pending finalization of the long-term financing plans for funding the company's purchase of Jaguar and Land Rover from Ford Motor Co. (B/Watch negative).

At the same time, S&P said it ratings on all Tata Motors' rated debt remain on CreditWatch with negative implications.

According to the agency, the rating on Tata Motors was lowered on April 4, 2008, to BB, from BB+, after the announcement of the agreement with Ford Motor Co. for the purchase of Jaguar and Land Rover.


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