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S&P Cuts Credit Rating For Jaguar Land Rover

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According to Automotive News, S&P downgraded the credit rating for Jaguar Land Rover and its owner. The move by Standards & Poor's may be followed up by another downgrade due to the growing risks of a no-deal Brexit and US import tariffs. S&P cut the senior unsecured notes rating for JLR, dropping their rating from a B-plus to a BB-minus. The cut was made after JLR posted third quarter results that were less than expected. But India's Tata Motors, which owns Jaguar Land Rover, was also downgraded by S&P due to negative cash flow that lasted more than a year.

Added on the 27/03/2019 15:53:15 - Copyright : Wochit

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