Key facts
- S&P Global said a potential leadership transition and listing of Tata Sons would not immediately affect the ratings of Tata conglomerate companies.
- Tata Trusts proposed a restructuring to help Tata Sons avoid a listing.
- S&P rates Tata Steel, Tata Motors, Tata Power, Tata Power Renewable Energy and Tata Capital at BBB with a stable outlook.
- Tata Motors Passenger Vehicles has a BBB rating with a negative outlook.
- Jaguar Land Rover is rated BBB- with a negative outlook.
S&P Global said on Tuesday that a potential leadership transition and listing of Tata Sons would not immediately affect the ratings of companies within the Tata conglomerate, citing likely gradual changes to financial policies and independent professional management teams. The comments come amid a boardroom rift at India's Tata group, with controlling charities at odds with management over the reappointment of Chairman N Chandrasekaran and a listing mandate for the holding company.