Tata Motors under Fitch scanner

MUMBAI: Fitch Ratings on Wednesday placed Tata Motors' rating on 'Rating Watch Negative' on increasing risks of a disorderly Brexit impacting its profits mainstay Jaguar Land Rover Automotive. JLR, which accounts for the majority of the company's profit generation, has a significant production bias to the UK despite a reasonable degree of geographic diversification in its sales mix, the global rating agency said. Trade barriers and logistic issues arising on a disorderly Brexit may impact on JLR's competitive positioning, and lead to significantly lower sales and profitability and higher workingcapital needs, it added.