Moody’s drops Tata Motors, debt to Ba2

Moody's Investors Service said it downgraded Tata Motors Ltd.’s corporate family rating and senior unsecured instrument ratings to Ba2 from Ba1.

The outlook is stable.

"The downgrade to Ba2 reflects our expectation of continued weakness in TML's consolidated credit metrics over the next two years, led by its wholly owned subsidiary Jaguar Land Rover Automotive Plc (JLR, Ba2 stable)," Moody's vice president and senior credit officer Kaustubh Chaubal said in a news release.

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