TEXT-S&P says Tata Motor's ratings unchanged

Newswire

(The following statement was released by the ratings agency) LONDON, Feb 19 - Standard & Poor's Ratings Services said today that Tata Motors Ltd.'s (BB/Stable/--) acquisition of Daewoo Commercial Vehicle Co. (DWCV) for US$102 million does not in itself have an impact on Tata Motor's credit rating or outlook. This acquisition will be equally financed by equity injection from Tata Motors, which currently has adequate cash resources, and by new debt issuance by DWCV. The increase in Tata ...

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