Moody's changes Tata Motors' outlook to negative, downgrades rating
19th Jun 2020

Moody's Investors Service has downgraded Tata Motors rating as the company faces tough market conditions amid the coronavirus pandemic. It has downgraded company’s corporate family rating (CFR) and senior unsecured instruments rating to B1 from Ba3. The outlook on all ratings has been changed to negative from ratings under review.

The downgrade reflects the sustained deterioration in company’s credit profile. The company's credit profile was already under pressure due to lower auto sales and falling demand in key markets even prior to the coronavirus outbreak.

Tata Motors is India’s largest commercial vehicle manufacturer.