Tata Motors’ JLR credit rating upgraded by Moody’s

jlrTata Motors said Moody´s Investors Service has upgraded the credit rating of its unit Jaguar Land Rover Automotive Plc. by one notch.

The company´s overall family corporate rating has been moved from Ba2 to Ba1. Outlook remains positive.

The Jaguar Lannd Rover is Tata Motors British unit. The company had seen credit downgrades after the financial crisis of 2008-2009 hit demand for its vehicles.

JLR makes high-end cars and SUVs whose demand is susceptible to economic sentiment.

The company was also thrown into uncertainty when Britain voted to exit the European Union.

JLR gets most of its revenue from outside Britain.

Tata Motors Ltd is an Indian multinational automotive manufacturing company headquartered in Mumbai, Maharashtra, India, and a subsidiary of the Tata Group.

Its products include passenger cars, trucks, vans, coaches, buses, construction equipment and military vehicles. It is the world’s 5th-largest motor vehicle manufacturing company, fourth-largest truck manufacturer, and second-largest bus manufacturer by volume