29 March, 2019
Jaguar Land Rover Automotive plc today issued the following statement in connection with S&P’s decision this week to downgrade the Company to ‘B+’ with credit watch negative.
The Company is disappointed by S&P’s decision to downgrade Jaguar Land Rover now. The Company reaffirms that it expects improved financial results in the fourth quarter period to March 31, 2019, compared to the first nine months of the financial year, with significant positive cashflow in the fourth quarter. Jaguar Land Rover is continuing to execute its product plans and Project Charge turnaround strategy to deliver £2.5 billion of cashflow improvements by March 2020.