Tata leadership transition, IPO unlikely to impact ratings, S&P Global says

•S&P Global says Tata leadership transition won't immediately affect ratings of group companies.

•Rating agency notes Tata Sons' influence on strategy despite independent management teams.

•Routine listing of Tata Sons would be credit-neutral in the near term, S&P Global says.

•Public shareholding could lead to greater scrutiny of capital allocation and group support over time.