Tata Motors gets a Ba3 rating from Moody's

It is yet another achievement for the auto major Tata Motors

. Recently the company has been provided with a better rating by a famous rating agency. The rating agency Moody's has recently raised the rating of Tata Motors, the largest automaker of the country. This rating has been increased by a notch because of the improved and developed performance of Jaguar Land Rover, the Tata Motors owned British marquee brand. Earlier, the rating agency had provided a B2 rating to Tata Motors but now because of the improved performance, this rating has been raised to a Ba3. Jaguar Land Rover has now been showing improved performance though it had declined during the third quarter of the fiscal year 2009. But since that time, Jaguar Land Rover (JLR) has been continuously recovering and has shown growing and progressing volume along with higher revenues alongwith margins on the launches of new products, stated the Moody's Investor Service. Moody's Vice-President/Senior Credit Officer Alan Greene commented that the up- gradation in rating shows the recovery in the performance of operations of the JLR business which exceeded Moody's expectations. He further added that the company is growing with speed and also the Indian business remains quite profitable. This has given the output of much improved leverage ratio of Tata Motors Limited. Besides these statement, Moody's also commented that Tata Motors is also observing a huge recovery in its Indian business. This has got the support of auto sector's growth of the country. On one side, the business of the commercial vehicles is constantly booming and is representing the main part of Indian operations of the company while on the other side, Tata Motors passenger vehicle volume growth can be observed by the current launches of product, like the cheapest car of the world Tata Nano or the launch of Tata Manza. Such launches helped in powerful revenue growth. Moody's also stated that the stable outlook of the company shows the stronger solid footing of the business which follows the market acceptance of newly launched products and the company business strategy divisions that are being steadily implemented.

Tata Motors gets a Ba3 rating from Moody's

By: Cardekho2010

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