MUMBAI: Global credit rating agency Moody’s Investors Service has put Tata Motors Ltd (TML) on review for downgrade, citing vulnerability of the company’s already weak credit profile amid the Covid-19 outbreak globally.

Moody’s on Thursday placed TML’s Ba3 corporate family rating and Ba3 senior unsecured debt rating on review for downgrade and revised its outlook to ratings under review from negative.

While the impact of coronavirus outbreak had led to deteriorating economic outlook, falling oil prices and extensive credit shock across many sectors globally, the automotive sector has been one of the most significantly affected industries given its sensitivity to consumer demand.

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