Moody's affirms Tata Motors' 'Ba3' rating, maintaining a positive outlook on all ratings.

Moody's affirms Tata Motors' 'Ba3' rating, maintaining positive outlook on all ratings. The rating agency believes the commercial vehicle unit will generate substantial earnings and cash flow, supporting Tata Motors' credit profile. The positive outlook reflects Moody's expectation that the upgrade momentum on its ratings should continue with or without the proposed demerger.