S&P removes Tata Motors from CreditWatch

S&P said it removed Tata Motors Ltd. from CreditWatch, because the agency believes Brexit and U.S. tariff issues could take longer to play out than it had expected.

The agency affirmed the company’s B+ ratings.

The outlook is negative.

“The negative outlook reflects Tata Motors' vulnerability to continued cash burn at Jaguar Land Rover Automotive plc, further risks from uncertainties on Brexit and trade tensions, as well as India's automotive market slowdown,” said S&P in a press release.

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