New Delhi: Moody’s Investors Service on Thursday upgraded ratings of half a dozen Tata Group firms, including TCS and Tata Motors, on account of Tata Sons’ track record in providing timely support to these firms.
The agency upgraded corporate family ratings of Tata Motors to Ba2/Stable from Ba3/Stable, Tata Chemicals’ to Ba1/Stable from Ba2/Stable, Tata Steel’s to Ba2 from Ba3, Tata Steel UK Holdings’ to B2 from B3, Tata Power’s to Ba3/Stable from B1/Negative and affirmed Tata Consultancy Services’ local currency issuer rating at A3/Stable. “The ratings of Jaguar Land Rover Automotive plc and Tata Chemicals North America Inc. have not been affected by today’s rating actions,” Moody’s Investors Service said in a statement.
