Moody’s assigns Ba1 corporate family rating to the leading auto component manufacturer MUMBAI : Moody’s Investor Service has assigned Ba1 corporate family rating (CFR) to the leading auto component manufacturer Motherson Sumi Systems Ltd (MSSL) and has withdrawn the company’s Baa3 issuer rating on Friday.
But at the same time, the credit rating agency said that it has placed MSSL’s Ba1 CFR under review for further downgrade while revising the outlook for the company from negative to rating under review. "The downgrade is driven by Motherson's already weak positioning in the Baa3 rating category before the current market stress, with financial metrics below our expectation for a Baa3 rating," said Kaustubh Chaubal, vice president and senior