New Delhi: Tata Motors’ shares closed at Rs 680.45 a piece on BSE on Tuesday, September 30, as Moody’s Ratings downgraded the company’s outlook from positive to negative. The rating downgrade comes after a major cyberattack happened on its British subsidiary, Jaguar Land Rover (JLR), that forced a complete production halt and suspension.

The rating agency sees the sharp deterioration in JLR’s credit metrics and prolonged production disruption as key reasons for the revision. However, Tata Motors’ corporate family rating (CFR) is still retained at Ba1.

“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, Assistant Vice President and Analyst at Moody’s. She also highlighted that the cyb

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