According to Automotive News, Tata Motors only borrowed $3 billion (yes a ‘B’) for the purchase of Jaguar and Land Rover from Ford. This one-year bridge loan from Citigroup and JPMorgan should help Ford. However, because of the increase debt, Standard & Poor may downgrade Tata from its current BB+ rating. The sale of Jag and LR to Tata should be complete by the month end.
Good Luck Tata, I hope you have better luck with it then Ford did!
Source: autonews.com (Subscription Required)
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