Mahindra & Mahindra Financial Services receives credit ratings from India Ratings & Research

Mahindra & Mahindra Financial Services has received credit ratings from India Ratings and Research as under:

Non convertible debentures (Rs 39,000 crore) - IND AAA'/ Outlook Stable

Retail Non-convertible Debentures (Rs 10,000 crore) - IND AAA'/ Outlook Stable (The rated limit is interchangeable with retail subordinated debt)

Private Sub Debt (Rs 3450 crore) - IND AAA'/ Outlook Stable

Principal Protected Market Linked Debenture (Rs 1500 crore) - IND PP-MLD AAA/Stable

Retail Subordinate Debt (Rs 3000 crore) - IND AAA'/ Outlook Stable

Commercial Paper (Rs 15,000 crore) - IND A1+

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