Moody's Downgrades Tata Motors' Outlook Over JLR Cyber Incident

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Moody's Ratings on Monday downgraded Tata Motors' outlook to negative from positive following a cyber-attack on its British arm Jaguar Land Rover which has led to a complete production halt.

The rating agency affirmed the Mumbai-based auto major's Ba1 corporate family rating.

"The outlook change to negative from positive reflects our view that a full recovery in credit metrics will likely take several months," said Sweta Patodia, a Moody's Ratings Assistant Vice President and Analyst.

The cyber incident at JLR highlights the customer relations risk captured under social risk considerations within the ESG framework, and is the key driver of the rating action, she added.

Following the demerger of the com