Mahindra & Mahindra Financial Services Limited (M&MFIN) has announced the credit ratings received from three major rating agencies: India Ratings & Research Private Limited, CRISIL Ratings Limited, and CARE Ratings Limited. The ratings were received on July 7th, 2026, at various times throughout the day. India Ratings & Research assigned an 'IND AAA/ Outlook Stable' rating to M&MFIN's Non-convertible Debentures (INR 490 bn), Retail Non-convertible Debentures (INR 80 bn), Private Sub Debt (INR 104.5 bn), Retail Subordinate Debt (INR 30 bn), and an 'IND PP-MLD AAA/Stable' rating to its Principal Protected Market Linked Debentures (INR 15 bn). The company's Commercial Paper also received an 'IND A1+' rating (INR 200,000 million). CRISIL Ratings Limited provided a 'CRISIL AAA'/ Stable' rating for long-term bank loans (INR 20,000 crore) and a 'CRISIL A1+' for short-term bank loans. The agency also assigned 'CRISIL A1+' to Commercial Paper (INR 20,000 crore), 'CRISIL AAA/ Stable' to Fixed Deposits (INR 20,000 crore), Non-Convertible Debentures (INR 28,855 crore and INR 2,125 crore), and Subordinated Debt (INR 887 crore and INR 5,113.5 crore). CARE Ratings Limited assigned 'CARE AAA ; Stable' for long-term bank facilities (INR 50,000 crore) and 'CARE A1+' for short-term bank facilities. M&MFIN has also updated this information on its website under the investor relations section.
