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As on 08-Sep-2026  12:36

Mahindra & Mahindra Financial Services receives credit rating reaffirmations from three agencies

Mahindra & Mahindra Financial Services Ltd announced reaffirmations of its credit ratings received on September 7th, 2026, from CRISIL Ratings Limited, India Ratings & Research Private Limited, and CARE Ratings Limited. CRISIL Ratings Limited reaffirmed ‘CRISIL AAA'/ Stable and ‘CRISIL A1+’ for Bank Loans (INR 20,000 Crore), ‘CRISIL A1+’ for Commercial Paper (INR 20,000 Crore), ‘CRISIL AAA'/ Stable for Fixed Deposit (INR 20,000 Crore), ‘CRISIL AAA'/ Stable for Non-Convertible Debentures (INR 30,980 Crore), and ‘CRISIL AAA'/ Stable for Subordinated Debt (INR 6,000.5 Crore); India Ratings & Research Private Limited reaffirmed ‘IND AAA/Stable/IND A1+’ for Bank Loans (INR 800,000 mn), ‘IND AAA/Stable’ for Fixed Deposits (INR 200,000 mn), ‘IND AAA'/ Outlook Stable for Non-convertible Debentures (INR 490 bn), ‘IND AAA'/ Outlook Stable for Retail Non-convertible Debentures (INR 80 bn), ‘IND AAA'/ Outlook Stable for Private Sub Debt (INR 104.5 bn), ‘IND PP -MLD AAA/Stable’ for Principal protected Market Linked Debentures (INR 15 bn), ‘IND AAA'/ Outlook Stable for Retail Subordinate Debt (INR 30 bn), and ‘IND A1+’ for Commercial Paper (INR 200,000 mn); CARE Ratings Limited reaffirmed CARE AAA; Stable / CARE A1+ for Long Term / Short Term Bank facilities (INR 50,000 Crore), CARE AAA; Stable for Secured non-convertible debenture (NCD Privately Placed) (INR 11,686.50 Crore), CARE AAA; Stable for Unsecured non-convertible debenture (NCD privately placed) (INR 1,000 Crore), CARE AAA; Stable for Subordinated debt (privately placed) (INR 2,385 Crore), and CARE AAA; Stable for Long -term debt programme (public issue non -convertible debentures/subordinated debt) (INR 4,059.03 Crore), with no enhancements, assignments, or withdrawals noted.