TEXT-S&P rates Tata Motor's proposed snr unsecured bond BB-

Newswire

(The following statement was released by the ratings agency). LONDON, Aug 25 - Standard & Poor's Ratings Services said today it assigned its 'BB-' rating to the proposed senior unsecured U.S.-dollar convertible notes to be issued by India's Tata Motors Ltd . (Tata Motors, BB-/Stable/--). The proposed issue size is US$100 million, including an oversubscription option of up to US$10 million. The holders of the convertible notes will have the option of converting the notes into shares ...

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