India, Nov. 12 -- Tata Sons infusing USD 914 million (around Rs 6,542 crore) equity in Tata Motors is credit positive for the company but the country's largest automobile manufacturer faces acute challenges in sluggish economic growth, weak liquidity, and tight financing norms, Moody's Investors Service said on Tuesday.
Moody's assigned a Ba3 rating to the proposed senior unsecured notes to be issued by Tata Motors. The rating outlook is negative, Moody's said in a statement.
"The Ba3 ratings reflect Tata Motors Ltd's (TML) leading market position in commercial vehicles (CVs) in India, 100 per cent ownership of the premium/luxury car manufacturer Jaguar Land Rover Automotive Plc, and ownership by Tata Sons, which results in a one-notch up...