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Tata Motors Credit Ratings

Credit Ratings

Rating Long-Term Outlook
Current* CARE AA+ Stable
Prior CARE AA Stable

*Rating change - March 2014

Rating Short-Term Long-Term Outlook
Current* CRISIL A1+ CRISIL AA Stable
Prior CRISIL A1+ CRISIL AA- Positive

*Rating change - Jan 2014

Rating Short-Term Long-Term Outlook
Current* ICRA A1+ ICRA AA- Positive
Prior ICRA A1+ ICRA AA- Stable

*Rating change - April 2012

Rating Long-Term Outlook
Current* Ba3 Stable
Prior B2 Positive

* Rating change - October 2010

Rating Long-Term Outlook
Current* BB Stable
Prior BB Positive

*Rating change - July 2013