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S&P Global Ratings has revised the long-term issuer credit outlook for Tata Motors Passenger Vehicles, JLR Automotive Plc, and TML Holdings Pte. Limited to Negative from Stable/Positive. Additionally, TML Holdings Pte. Limited's Senior Unsecured Notes rating was downgraded from BBB to BBB-. JLR's Senior Unsecured Debt rating of BBB- was reaffirmed.