ICRA assigns highest credit rating (A1+) to Tata Motors Finance

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Indian rating agency ICRA assigned highest credit quality rating (A1+) to Tata Motors Finance Ltd’s Rs 2,000 crore short term debt.

Earlier in this January ICRA had placed the company’s long-term and short-term ratings on negative watch.

Since Tata emerged as the preferred Jaguar and Land Rover acquisitions bidder, business and financial risk profile of the company is at high stake.

ICRA said it could take further rating action when the details of the proposed acquisition are made available and if the proposed acquisition falls through, the rating watch is likely to be removed for the debt programmes of Tata Motors and Tata Motors Finance.

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