India's CRISIL ups Tata Motors bonds to 'AA+'

Newswire

BOMBAY, Sept 29 (Reuters) - Indian rating agency CRISIL Ltd. said on Wednesday it had upgraded the non-convertible debenture issues of Tata Motors Ltd. to 'AA+/stable' from 'AA/stable', a rise within the high safety grade. The agency cited significant improvement in the company's financial risk profile as a reason for the upgrade, and said it was expected to be sustained in the medium term. "This improvement is aided by the stronger-than-expected performance of the commercial vehicle ...

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