Tata Steel, Tata Power, and Tata Motors are among the six Tata Group
The rating actions precede S&P's examination of the group's holding firm Tata Sons' ties with its subsidiaries.
On June 14, S&P Global Ratings gave six Tata group companies—including Tata Motors, Tata Steel, and Tata Power—positive ratings on CreditWatch. TML Holdings, ABJA Investment, Tata Power, and Jaguar Land Rover are the other businesses in the Tata Group.
The rating actions precede S&P's examination of the group's holding firm Tata Sons's connection with its subsidiaries. According to a statement from S&P, the review will determine whether Tata Sons' capacity for providing the group businesses with extraordinary support is larger than what we previously assumed. This is because the group's operational and managerial ties are growing.
Tata Sons has a history of assisting collective businesses during trying times, according to S&P. For instance, the group gave significant and exceptional financial support to companies like Tata Teleservices Ltd. and Coastal Gujarat Power Ltd., a Tata Power affiliate that was amalgamated with Tata Power.
"We are also undertaking the review because we believe operational integration between Tata Sons and group entities, as well as between group entities, will continue to increase."
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