Tata’s rating down after Nano launch
Contrary to hopes, Standard & Poor’s, global ratings agency, cut the ranking of Tata Motors after the glitzy lauch of Tata Nano. S&P cleared that it did not comment on credit rating changes. S&P analyst Manuel Guerena explained that a material deterioration in cash flow, a difficult operating environment and high debt for cutting Tata Motors's rating to B+ from BB-. It is also suggested that the Tata Nano would contribute little to profits soon despite hopes. Tata Nano’s British luxury marques Jaguar and Land Rover have been badly effected by a slowing domestic economy and the deepening global financial crisis at the same period.
Vidyadhar
Published On Mar 31, 2009 21:20 IST
Published OnMar 31, 2009 21:20 IST
Last Updated OnMar 31, 2009 21:20 IST
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The company is still working to refinance the two billion dollars outstanding from a three billion dollar loan it took to pay for those acquisitions. Bankers have said the bridge loan issue must be resolved by early June.
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<p>Vidyadhar takes charge of the quality and consistency of the content produced by CarDekho correspondents. With over 5 years of involvement in content & social media marketing, he believes that the www is an ever evolving phenomenon. Considering the ways the web algorithms are evolving, foreseeing the threats and opportunities and managing online business accordingly is going to play a crucial role. He comes from a highly valued content development background, where, during the first phase of his corporate career, he served Westpac, an Australian bank. Later, he came into the context of technical writing where he managed teams that dealt in producing maintenance guides meant for software applications. This part of his career bestowed upon him an outlying vision to see things from end-user perspective. He bagged a masters degree in English and is pursuing MBA in Digital Marketing at the moment. </p>Read more
