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S&P downgrades JLR, Tata Motors over risks of no-Brexit deal

Mar 28, 2019 12:50 IST

Ratings agency S&P on Wednesday downgraded stocks of Jaguar Land Rover and Tata Motors deeper into junk and put it for review for further downgrade on worries of a no-Brexit deal and US import tariffs. The credit rating agency lowered ratings to 'B+' from 'BB-' after JLR posted weak third-quarter results. S&P also said that JLR needs to meet base expectations and must have a strong fiscal year to maintain 'B+' rating.

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