TEXT-Moody's downgrades Tata Motors to B1; outlook negative

Newswire

(The following statement was released by the ratings agency) Nov 28 - Moody's Investors Service has today downgraded the corporate family rating of Tata Motors Ltd ("TML") to B1 from Ba2. The outlook remains negative. "The rating change reflects the slowdown in demand seen in both TML's domestic and overseas markets. This translates into pressure on profitability, and happens at a time when the company has increased its leverage. TML's financial flexibility is therefore significantly ...

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