Moody's upgrade Tata Motors' ratings by two notches, keeps outlook positive

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Moody's upgrade Tata Motors' ratings by two notches, keeps outlook positive - Business Standard

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"TML's two-notch rating upgrade with a positive outlook follows the company's sustained track record in achieving revenue growth, improving profitability and reducing debt using its large free cash flow despite its elevated capital expenditure to refresh its products," Moody's Ratings Senior Vice President Kaustubh Chaubal said.

Moody's Ratings on Wednesday said it has upgraded Tata Motors Ltd's corporate family rating by two notches to Ba1 from Ba3 citing sound governance practices, particularly the company's creditor-friendly financial policies, track record and management prudence.

The ratings agency also said it has upgraded Tata Motors Ltd's (TML) senior unsecured instruments' ratings to Ba1 from Ba3.