Moody's ups Jaguar Land Rover

Moody's Investors Service said it upgraded the corporate family rating and probability of default rating of Jaguar Land Rover plc to Ba3 from B1 and the ratings on its senior unsecured notes to Ba3 from B1.

The outlook is stable.

"Today's rating action was triggered by the continuous improvement in Jaguar Land Rover's financial metrics over the past several quarters, as reflected by its results for fiscal year 2011/12, which exceeded our expectations," Moody's senior vice president and lead analyst for Jaguar Land Rover Falk Frey said in a news release.

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