Mahindra & Mahindra Financial Services Sees Credit Rating Reaffirmation from Major Agencies
Mahindra & Mahindra Financial Services Ltd. has received reaffirmation of its credit ratings from three major rating agencies: India Ratings & Research Private Limited, CARE Ratings Limited, and CRISIL Ratings Limited. These ratings were confirmed on April 22, 2026, following a request initiated by the company.India Ratings & Research Private Limited published the ratings at 12.06 p.m. IST. The agency provided ratings across several instruments, including Non-convertible Debentures, Retail Non-convertible Debentures, Private Sub Debt, and Commercial Paper.
The details of the ratings assigned by India Ratings & Research Private Limited are as follows:
| S.N. | Instrument | Rated Amount | Rating |
|---|---|---|---|
| 1 | Non-convertible Debentures | INR 490 bn | 'IND AAA'/ Outlook Stable |
| 2 | Retail Non-convertible Debentures | INR 80 bn | 'IND AAA'/ Outlook Stable |
| 3 | Private Sub Debt | INR 104.5bn | 'IND AAA'/ Outlook Stable |
| 4 | Principal Protected Market Linked Debenture | INR 15 bn | IND PP-MLD AAA/Stable |
| 5 | Retail Subordinate Debt | INR 30 bn | 'IND AAA'/ Outlook Stable |
| 6 | Commercial Paper | INR 200,000 mn | IND A1+ |
| 7 | Bank loan | INR 800,000mn | IND AAA/ Stable / IND A1+ |
| 8 | Fixed Deposit | INR 200,000 mn | IND AAA/ Stable |
CARE Ratings Limited released its reaffirmation at 02.33 p.m. IST. The rating agency reviewed various debt instruments, including Secured and Unsecured Non-convertible Debentures and Subordinate Debt.
| S.N. | Instrument | Rated Amount (Rs. in Crore) | Rating |
|---|---|---|---|
| 1 | Secured Non-convertible Debentures (NCD Privately Placed) | 12343.5 | CARE AAA; Stable (Reaffirmed) |
| 2 | Subordinate Debt (Public Issue) | 933 | CARE AAA; Stable (Reaffirmed) |
| 3 | Unsecured Non-convertible Debentures (NCD Privately Placed) | 1000 | CARE AAA; Stable (Reaffirmed) |
| 4 | Subordinate Debt (Privately Placed) | 2485 | CARE AAA; Stable (Reaffirmed) |
| 5 | Long-term Debt Program (Public Issue Non- convertible Debentures / Subordinate Debt | 4059.03 | CARE AAA; Stable (Reaffirmed) |
CRISIL Ratings Limited assigned its ratings at 08.04 p.m. IST. CRISIL reviewed a comprehensive portfolio of debt instruments, including bank loan facilities, fixed deposits, and various types of debentures.
| S.N. | Instrument | Rated Amount (Rs. in Crore) | Rating Outstanding |
|---|---|---|---|
| 1 | Bank loan Facilities | 20000 | Long Term - Crisil AAA/Stable (Reaffirmed) Short Term - Crisil A1+ Reaffirmed) (enhanced from 13,317 crore) |
| 2 | Subordinated Debt | 887 | Crisil AAA/Stable (Assigned) |
| 3 | Non-Convertible Debentures | 2125 | Crisil AAA/Stable (Assigned) |
| 4 | Fixed Deposits | 20000 | Crisil AAA/Stable (Reaffirmed and enhanced from 18,000 crore) |
| 5 | Commercial Paper | 20000 | Crisil A1+ (Reaffirmed and enhanced from 17,000 crore) |
| 6 | Non-Convertible Debentures | 28855 | Crisil AAA/Stable (Reaffirmed) |
| 7 | Subordinated Debt | 5113.5 | Crisil AAA/Stable (Reaffirmed) |
| 8 | Non Convertible Debentures* | 4020 | Withdrawn |
Stock Price Movement
As of 11:36, Mahindra & Mahindra Financial Services Ltd shares are currently dipping to ₹295.80, marking a decline of 1.47%. The stock traded intraday within a range, dipping from an earlier high of ₹300.10 down to ₹295.05.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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