S&P puts Tata on positive watch

S&P said it placed the long-term issuer and issue credit ratings on Tata Steel Ltd., Tata Motors Ltd., ABJA Investment Co. Pte. Ltd., TML Holdings Pte. Ltd. and Jaguar Land Rover Automotive plc on CreditWatch with positive implications.

“The CreditWatch signals that we could potentially reassess the relationship between these Tata group entities and the holding company Tata Sons Pte. Ltd. (unrated), the potential for extraordinary support from Tata Sons, and therefore the ratings on these group entities. We regard the credit quality of Tata Sons to be strongly investment grade,” S&P said in a press release.

S&P said it aims to resolve the CreditWatch within the next four to six weeks.

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