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      Instrument data
      Issuer
      Tegeta Motors LLC
      Senority
      Senior Unsecured
      Currency
      USD
      ISIN
      GE2700604335
      Coupon percent
      8.5%
      Coupon type
      Fixed
      Instrument volume
      20,000,000
      Maturity date
      28/04/2025
      -
      WD Outlook: N/A
      WD Outlook: N/A
      Latest change
      Withdrawal
      28/04/2025
      General information
      Rating
      Public
      Solicited
      With issuer participation
      UK endorsed
      EU Rated
      Withdrawal reason: end of maturity of the debt obligation, or in case the debt is redeemed, called, prefunded, cancelled
      Claudia Aquino Lead analyst
      Thomas Faeh Committee chair
      Scope places Tegeta Motors ratings under review after updating General Corporate Rating Methodology

      26/2/2025 Rating announcement EN

      Scope places Tegeta Motors ratings under review after updating General Corporate Rating Methodology

      The rating action follows the publication of Scope’s updated General Corporate Rating Methodology, which is likely to have a negative impact.

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      Scope affirms Tegeta Motors’ BB- issuer rating and revises the Outlook to Negative from Stable

      17/9/2024 Rating announcement EN

      Scope affirms Tegeta Motors’ BB- issuer rating and revises the Outlook to Negative from Stable

      The Outlook change reflects weakening credit metrics in 2024 and a deteriorating capital structure with increased short-term exposure to capital market debt leading to recurring maturity walls.

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      Scope affirms BB- issuer rating of Tegeta Motors LLC, revises Outlook to Stable from Negative

      4/10/2023 Rating announcement EN

      Scope affirms BB- issuer rating of Tegeta Motors LLC, revises Outlook to Stable from Negative

      The Outlook change reflects resilient credit metrics, which after deteriorating in 2022, are recovering thanks to a strong operating performance.

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