ICRA puts Tata Motors on 'watch' list

New Delhi, Jan 5 (UNI) Credit rating agency ICRA today placed Tata Motors (TML) on rating 'watch with negative implications', which reflects the likely increase in the business and financial risk profile of TML.

The ratings is in the event of successful conclusion of Jaguar and Land Rover acquisitions, where Ford has announced focused discussions with TML concerning potential sale of the combined Jaguar Land Rover business, said a statement from ICRA.

ICRA said it will take further rating action as and when full details of the proposed acquisition are made available.

''Should the proposed acquisition fall through, the rating watch is likely to be removed, restoring back the stable outlook,'' said ICRA UNI PBB BJR PM1511