Tata Motors is planning to raise a total of up to Rs 2,500 crore through non-convertible debentures (NCDs) in 2018-2019 on a private placement basis in one or more series, according to the annual report released by the company on Thursday. The company will be raising the fund with an intention to finance the repayment of certain NCDs\/term loans from banks, to fund part of the ongoing capital expenditure and for general corporate purposes. Last year in August, the company had obtained members\u2019 approval for borrowing up to Rs 3,000 crore by way of NCDs at its annual general meeting. However, it had borrowed only Rs1,500 crore by way of unsecured NCDs up to May 2018. Meanwhile, Moody\u2019s Investors Service on Thursday downgraded the company\u2019s senior unsecured instrument ratings to Ba2 from Ba1.The rationale behind the company\u2019s downgraded ratings is put to be Moody\u2019s expectation of continued weakness in Tata Motors\u2019 consolidated credit metrics over the next two years led by its wholly-owned subsidiary Jaguar Land Rover Automotive.