Moody's Investors Service has today downgraded to Ba2 from Ba1 the corporate family rating (CFR) for Tata Motors (TML).

At the same time, Moody's has downgraded the company's senior unsecured instrument ratings to Ba2 from Ba1. The rating outlook is stable.

The stock had underperformed the market over the past one month till Jul. 13, 2018, falling 13.47% compared with the Sensex's 2.25% rise. It underperformed the market in past one quarter, declining 25.57% as against 6.87% rise in the Sensex.

Shares of the company declined Rs 5.3, or 2.01%, to trade at Rs 258.85. The total volume of shares traded was 149,806 at the BSE (9.39 a.m., Monday).