Follow Us:
Saturday, May 28, 2022

Financial pressure eases on Tata Motors

Financial pressure on Tata Motors has eased due to improvement in the automobile market.

Written by Agencies | New Delhi |
May 19, 2009 2:00:19 pm

Financial pressure on Tata Motors has eased due to improvement in the automobile market and inflow of funds from bookings of its small-car Nano,said global agency Standard and Poor’s while retaining the company’s rating on creditwatch with negative implications.

Noting that the company took measures to manage short-term debts,the agency’s credit analyst Manuel Guerena said,”This,along with improvement in the Indian automobile market conditions in 2009,has somewhat eased liquidity pressure at Tata Motors”.

The agency,however,has continued to keep the long-term corporate debt and unsecured debt of Tata Motors on creditwatch with negative implications (possibility of a downgrade).

“There was no change in rating assigned to this company,which is (plus) and is on credit watch with negative implications,” Guerena said,adding the agency updated its views on Tata Motors beacuse of the USD two-billion bridge loan which becomes due for repayment on June 2 this year.

Best of Express Premium

Weekly Horoscope, May 29, 2022 – June 4, 2022: Libra, Aries, Pisces and o...Premium
Heat rising over Kerala rally, PFI in no mood to backtrack on ‘camp...Premium
‘Monetisation’ axed, MeitY’s fresh draft to ‘encourage’ cos to share non-...Premium
Supreme Court directions on sex workers: history of the case, and where i...Premium

The rating B (plus) suggests that adverse business,financial and economic conditions can impair the ability of the company to meet its financial commitments.

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard